Minister for Finance Michael Noonan will publish his sixth budget this afternoon. With persistent leaks to the press throughout the weak, not many surprises are expected but whether or not it will be passed on a minority government with the possibility of Fianna Fáil abstaining could be crucial. Follow all of your student coverage of Budget 2017 below, or keep up to date on our Facebook and Twitter pages @thecollegeview
What we know so far:
- Overall budget package of €1.3bn
- €36.5 million increase in funding for Higher Education
- Tax cuts by €500 million
- 2% decrease on DIRT tax
- Increasing excise duties on cigarettes by 50 cent is only tax increase
- No change to12.5% corporation tax
- Amount of €1 billion annually announced for rainy day fund
- New debt to GDP ratio of 45% to be reached by mid 2020s
- Interest deduct ability for landlords increased from 75% to 80% in 2017 and then 5% until back to 100%.
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