The total 2021 budget package will be €17.75bn with €17bn in expenditure and €270m in taxation.
Finance Minister Pascal Donohoe says €8.5bn will be spent on public services including €2.1bn on contingency funding.
Capital spending to increase by €1.6bn
Minister Donohoe says he’s setting up a €3.4bn euro recovery fund aimed at increasing employment.
No broad changes to income tax credits or bands but the ceiling for the second USC rate adjusted up to €20,687.
Weekly threshold for higher rate of employers PRSI will go from €394 to €398.
Self employed income tax credit to rise by 150 to 1650.
Paschal Donohoe has told the Dail the Temporary Wage Subsidy Scheme or a similar scheme will be needed until the end of 2021.
Govt to apply for EU funding to support this which could yield €2.5bn.
There will be a new COVID restrictions support scheme to provide targeted support for businesses that have temporarily closed because of the pandemic.
This scheme will operate when level three or higher is in place.
The payments will be based on their 2019 weekly turnover.
The scheme will be effective from today until March 31st with the first payments in mid-November.
VAT for hospitality will be reduced to 9% from November 1st until December 2021.
