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Under 27? Here Are 13 Ways Today's Budget Could Affect Your Life

Under 27? Here Are 13 Ways Today's Budget Could Affect Your Life

At lunchtime today Paschal Donohoe will reveal the 2019 Budget in its entirety but here's everything we know so far about what will impact your life, especially if you're under the age of 30:

Health

1. Up to 100,000 additional people may qualify for free GP care and the income threshold for doctor-only cards will rise by €25 per week.

2. The amount which patients have to pay themselves before qualifying for subsidies under the Drug Payment Scheme will be reduced by €10. Young people between the ages of 18 - 23 qualify for the scheme and the scheme is an alternative to the medical card.

3. Spending on mental health services will increase by €55 million.

Jobs and Education

4. All social welfare payments will increase by €5 a week from next year, with the Christmas bonus restored to a double payment for the first time since the recession.

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5. An additional €300 million will be allocated to third level education up until 2024.

Social Welfare and Tax

6.  There will be no increase in carbon tax or tax on diesel.

7. A 1% increase in vehicle registration tax for newly registered diesel vehicles will be implemented instead of an increase in fuel costs.

8. Cigarette costs will increase by 50 cents but there will be no increase in alcohol. Betting tax to increase from 1% to 2%.

9. Tax-free threshold for inheritances increased by €10,000 from €3,000.

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10. To cover the cost of a number of benefits, eating out will be impacted. The 9% VAT for hotels, restaurants, and hairdressing will be increased to 13.5%.

Housing

11. Housing and accommodation is an annual struggle for thousands of students across the country. Capital spending on all housing measures, including social housing, will increase by €482 million to total €2.1 billion which increase student accommodation over time.

12. A grant scheme for people who want to convert their homes into smaller units, which could then be rented out, is also expected to be worth €40,000 to €60,000. What seems like an oversight in the budget, landlords will experience 100% mortgage relief which is likely to impact renting and first-time buyers.

13. The Government will add €60 million to tackle homelessness and an additional €300 million to the affordable housing scheme.

Also Read: 9 Spots In Ireland You Have To Visit In Autumn

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Garret Farrell

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