Much of the 2017 budget has already been leaked to the press. Here’s a round-up of what has been reported ahead of the formal presentation.
- Economic growth to hit 1.7% next year
- Inflation to rise slightly to 0.5%
- Budget deficit will go down to 0.5%
- Unemployment to drop further
- People in work will have 1% more to spend on average
- Pensioners’ spending power will rise by 0.7%
Total extra spending: €2.6bn
- €400m for health, much of which will go on nursing homes
- €300m extra for defence, to be spent on equipment, munitions and communications technology
- €221m more for the police
- €229m for counter-terrorism, the national forensic institute and cybercrime
- €100m to help poor children take part in sports and music lessons
- €50m for single income households with a chronically sick partner
- €200m for education
- €10m for top flight sport
- €10m for the arts and culture
According to the AD, the government is planning extra measures to boost the spending power of poorer families and pensioners set to cost €1.1bn
This will be paid for by cutting tax breaks on labour, raising amount of tax payable in the third tax band and cutting entitlements to healthcare benefits.
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