2016 Irish budget explained

Irish budget
Year:	2016
Country:	Ireland
Previous Budget:	2015 Irish budget
Previous Year:	2015
Next Budget:	2017 Irish budget
Next Year:	2017
Minister:	Michael Noonan (FG)
Finance Minister Title:	Minister for Finance
Otherminister:	Brendan Howlin (Lab)
Other Minister Title:	Minister for Public Expenditure and Reform
Presented:	13 October 2015
Parliament:	31st Dáil
Government:	29th Government of Ireland

The 2016 Irish budget was the Irish Government budget for the 2016 fiscal year, which was presented to Dáil Éireann on 13 October 2015.

The Minister for Finance Michael Noonan outlined the taxation measures with Public Expenditure Minister Brendan Howlin detailing the spending.^{[1] [2] [3] [4] [5] [6]}

Families were the big winners in the Budget, with a €5 increase in the monthly child benefit, free GP care for the under 12s and extra free pre-school childcare announced.^[7]

Summary

^{[8] [9] [10]}

• A pack of 20 cigarettes is to increase by 50 cent from midnight of the 13 October.
• The entry point to the USC will rise from €12,012 to €13,000
• Free pre-school childcare will be available for children from 3 years until they reach five and a half.
• The Christmas bonus for social welfare recipients restored to 75 per cent of the recipient's weekly payment.
• Old age pension will increase by €3 per week from January 2016.
• Child benefit to increase by €5 per month to €140 from January 2016.
• Fuel allowance will be increased by €2.50 per week to €22.50.
• 600 extra gardaí to be recruited.
• 2c charge every time cash is withdraw from an ATM using a debit card capped at €2.50 for ATM cards and €5 for combination ATM / debit cards.
• Minimum wage increased from €8.65 to €9.15 per hour from January 2016.

External links

• Budget 2016 Document
• Irish budget, 2016 at Tax Institute
• Irish budget, 2016 at Irish Independent

Notes and References

1. Web site: What to expect from Budget 2016. 11 October 2015. Irish Independent. 12 October 2015.
2. Web site: Budget 2016: Christmas bonus to be increased while cigarette prices will see rise of 50 cent. 12 October 2015. Irish Independent. 13 October 2015.
3. Web site: Here's everything we know about the Budget so far. 12 October 2015. The Journal. 13 October 2015.
4. Web site: Budget 2015 live. 13 October 2015. The Journal. 13 October 2015.
5. Web site: BUDGET 2016: Workers may be €1k a year better off. 14 October 2015. Irish Examiner. 14 October 2015.
6. Web site: LIVE: All your questions answered as budget slammed as 'too expansionary' by Gov't advisors. 14 October 2015. Irish Independent. 14 October 2015.
7. Web site: Budget 2016: Families the big winners in 'giveaway' last budget before election. 13 October 2015. Irish Independent. 14 October 2015.
8. Web site: Cash back in our pockets: Budget gains aimed at low and middle-income families. 14 October 2015. Irish Independent. 14 October 2015.
9. Web site: The Morning After: Here's what the papers made of Budget 2016. 14 October 2015. The Journal. 14 October 2015.
10. Web site: Budget 2016: The key points. 14 October 2015. RTÉ News. 14 October 2015.