The 2011 Irish Budget refers to the delivery of a
government budget
A government budget is a document prepared by the government and/or other political entity presenting its anticipated tax revenues (Inheritance tax, income tax, corporation tax, import taxes) and proposed spending/expenditure (Healthcare, Educa ...
by the
Government of Ireland
The Government of Ireland ( ga, Rialtas na hÉireann) is the cabinet that exercises executive authority in Ireland.
The Constitution of Ireland vests executive authority in a government which is headed by the , the head of government. The governm ...
on 7 December 2010. It was also the fourth and final overall budget to be delivered by
Fianna Fáil
Fianna Fáil (, ; meaning 'Soldiers of Destiny' or 'Warriors of Fál'), officially Fianna Fáil – The Republican Party ( ga, audio=ga-Fianna Fáil.ogg, Fianna Fáil – An Páirtí Poblachtánach), is a conservative and Christian- ...
's
Brian Lenihan as
Minister for Finance
A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation.
A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...
. The budget for 2011 occurred in the context of a major recession, which followed the
Irish financial crisis
The post-2008 Irish economic downturn in the Republic of Ireland, coincided with a series of banking scandals, followed the 1990s and 2000s Celtic Tiger period of rapid real economic growth fuelled by foreign direct investment, a subsequent pr ...
. The budget was described as the most draconian budget in the history of the State, with €6bn worth of savings.
Main points
This is a list of the main points contained in the 2011 Budget.
*No reduction in state pension.
*€10 reduction in Child Benefit rates.
*€8 cut for social welfare, jobseekers payments.
*4c on petrol, 2c on diesel from midnight.
*Revised air travel tax of €3 from March 2011.
*€40 payment for fuel allowance recipients.
*New minimum wage not in tax net.
*Public service pay will not be cut
*Public sector salary capped at €250k
*Public service pensions over €12k cut 4%
*Taoiseach salary cut by €14k; ministers by €10k
*Next President's salary to be capped at €250,000
*Employee PRSI/health levy pension relief gone
*Income/health levies to be replaced by single universal social charge. Rates on the charge will be 0% below €4,004 a year, 2% up to €10,036, 4% from €10,036 to €16,016 and 7% above this level
*Pension contributions subject to PRSI and Universal Social Charge
*Employee PRSI contribution ceiling removed
*Increase in the PRSI rate for the self-employed, higher earning public servants and office holders
*1% tax on residential transactions up to €1m; 2% over €1m
*All stamp duty exemptions abolished
*Car scrappage extended for six months
*No change to Ireland's corporation rate
*Value of tax bands and credits to be reduced by 10%
*DIRT increased by 2%
*Online betting will be subject to the same betting duty as in bookie shops
*Carer's Allowance for those under 66 to be cut by €8 to €212 a week
*Disability Allowance being cut by €8 to €186 a week
*Business Expansion Scheme to be revamped
*15,000 activation places for unemployed
*Third-level student charges are to rise by €500 to €2000
*Student grants are to be cut by 4%
*New passport fees for over 65s
References
External links
Irish Government Budget 2011 website
{{DEFAULTSORT:Irish Budget, 2011
2010 in Irish politics
2011 in Irish politics
Budget
A budget is a calculation play, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmenta ...
Budget
A budget is a calculation play, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmenta ...
2011 government budgets
30th Dáil
11