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Education
Education Minister Norma Foley will reduce the student-teacher ratio to 25: 1 with the creation of 600 new positions.
There will be a new fund of € 50 million to provide one-time financial aid to full-time third level students. The measure is likely to be worth € 250 for each student.
There will also be a € 120 million package for recycling and recycling, including an extension of the learning program.
Higher Education Minister Simon Harris has also secured € 30 million for research, including island-wide research.
There will also be changes in postgraduate support and a minor capital works plan for third-level universities.
There will be some wellness increases that will benefit parents as well. An increase for one payment per qualifying child will be part of Budget2021: it will be increased by € 5 per week for children over 12 and € 2 per week for those under 12.
accommodation
The Help To Buy scheme will be extended to its current level, allowing up to € 30,000 in tax refunds on a new home. There is also likely to be a € 500 million fund for new social housing projects.
Housing Minister Darragh O’Brien’s affordability program will cost 468 million euros. It will include € 110 million to be split between affordable purchase measures and the scheduled delivery of the cost rental in 2021.
The affordable purchase measures will be constituted as a shared capital scheme and will amount to 75 million euros.
Details of this are still being worked out and will be announced in the coming weeks.
However, it is understood that the Department is in dialogue with the banks of the pillar to provide counterpart funds, bringing the total to 150 million euros. This will also need state aid approval.
Some 35 million euros are reserved for rental expenses. The remaining € 358 million is split between existing schemes such as the serviced sites fund, the local infrastructure housing activation fund, the Irish rebuilding mortgage loans and the Territorial Development Agency.
Tax
Donohoe established his position when it comes to income tax when he categorically said there would be no increase. The other unspoken side of the equation is that there will be no cuts either.
Cuts were promised to USC, but that was in the days before Covid. In these tough times, the best you can hope for here is a fit.
The same can be said for the PRSI. Possibly a change here and there, possibly not.
It has become almost common for the state pension to receive € 5 on budget day. This year could well be the exception.
No commitment has been made in any way with the Christmas bonus. However, it would be politically difficult not to pay it.
Reports indicate that the caregiver grant will increase by € 150 next year.
An increase in the price of cigarettes and other tobacco products is nailed. Probably the only thing in the 2021 budget. Alcohol is unlikely to get more serious.
Commitments
One of the extraordinary announcements expected is a stimulus fund worth up to € 5 billion to support the economy in the aftermath of Covid-19 and Brexit.
The VAT rate for the hospitality sector is expected to drop from 13.5 percent to nine percent, as it was during the last financial crisis, in a boost for the struggling industry.
The Cabinet will approve a new plan that will offer companies a subsidy of up to € 5,000 a week if they have been forced to close or if turnover has fallen by 80 percent.
Changes in the way cars are taxed are anticipated, with reduced VRT rates for new electric cars and low-emission gasoline cars.
There will also be an increase in funding for the direct provision system.
Tusla, the agency for children and families, is expected to receive a budget increase of about € 50 million, and an additional € 100 million will be provided through the disability budget.
Health
Approximately 1.6 billion euros allocated for new developments, including additional beds and staff, as well as new funds for mental health. There will also be additional funding for home care packages to keep people out of hospitals.
The HSE said over the weekend it was considering the provision of roughly 20 additional ICU beds next year, and 125 more in 2022 to bring the total to about 450.
Around € 1.3 billion will be included in the new health budget to pay for Covid-19 testing and tracking and to cover the cost of purchasing personal protective equipment.
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