Tax cuts, vape tax & free school books likely in budget as negotiations continue

The Budget News

Tax cuts, vape tax & free school books likely in budget as negotiations continue
BudgetJack ChambersPaschal Donohoe
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The Irish Mirror understands that a tax on vaping products is “very likely” with final considerations now being given to how and when the charge will be introduced.

Bumper tax cuts that will see USC slashed and the entry rate for the higher rate of tax increase will be unveiled as part of the Government’s final budget.

The Irish Mirror understands that the Fianna Fáil TD has proposed to the coalition leaders that the rate at which people pay the 40 per cent rate of tax should be increased from €42,000 to €44,000. At a press conference on Friday evening, Mr Chambers would not commit to the tax being introduced but stated it was his “intention to try and advance that” and there has been “intensive work ongoing” between the Department of Finance and Revenue.

The Finance Minister and Minister Donohoe said that the cost of living package is still being examined but acknowledged that it will not be as large as in previous years due to falling inflation. It is understood that this is still under negotiation but is growing more unlikely, with one Government source stating that Mr O’Gorman will have to “push for it” and it “might not happen”.

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Budget Jack Chambers Paschal Donohoe

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