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THREE MONTHS AGO, Paschal Donohoe and Micheal McGrath delivered the first Budget of the new coalition, the largest in the history of the State.
The budget was aimed at helping the economy recover from the effects of the Covid-19 pandemic, with headline announcements that included a € 4 billion allocation for health, business support and further increases in the carbon tax.
Measures such as the increase in the carbon tax and the rise in the price of cigarettes came into effect from October 14, but many more will not be implemented until tomorrow.
This is what you need to know:
Social welfare
Qualifying Dependent Child Payments will increase by € 5 for children 12 years old and over and € 2 for children up to 12 years old, which will take effect on various dates in January, depending on the weekly welfare payment that either parent is receiving.
The fuel allowance payment will increase from € 3.50 to € 28.00 per week starting next week, affecting more than 375,000 homes.
The allowance to live will only increase from € 5 per week to € 19, affecting pensioners, widowers and widowers, and people with disabilities. It will enter into force from the first week of January.
The island subsidy (paid to people living on certain islands near the coast) will increase by € 7.30 to € 20 per week of the following week.
Working family pay will raise your weekly income threshold for 10 € for families with up to three children starting next week, affecting about 48,700 families.
The surviving or widowed civil partner grant that helps widows, widowers and surviving civil partners with children will increase from € 6,000 to € 8,000 tomorrow.
A € 1,000 A support grant will also be introduced next month to provide supported employment services to job seekers with disabilities.
Taxes
A new form of car tax will be introduced for cars registered after January 1.
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Instead, the new vehicle tax will take into account the Globally Harmonized Light Vehicle Test Procedure (WLTP) emissions system.
What happens later in 2021?
The Workers’ Wage Subsidy Program, which currently expires on March 31, will continue in some form beyond that date, and Donohoe said a similar scheme would be needed through the end of the year to provide companies with higher levels of certainty.
The Government is also launching a € 3.4 billion Recovery Fund for businesses in light of the threat posed by Brexit.
An additional 2,100 positions will also be created in the school system, including another 990 new Special Needs Aides (SNA), and will likely be available for the new school year next September.
Another 20 million euros has also been allocated to ensure that students affected by Covid-19 have access to supports through the SUSI scholarship system before the next academic year.
The SUSI fee for postgraduate studies will also increase by € 1,500 to € 3,500 before next September.
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