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BUDGET 2012

Loreto College, Mullingar. BUDGET 2012. BUDGET 2012. 5 th Yr Economics December Project. Health, Education, Social Welfare. Health, Education, Social Welfare and Taxation. By Laura Creagh, Alanna Smyth,Fiona Lynam, Hannah Ortega- McCormack and Anna Mielczarek. HEALTH. €543m in cuts

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BUDGET 2012

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  1. Loreto College, Mullingar BUDGET 2012 BUDGET 2012 5th Yr Economics December Project Health, Education, Social Welfare Health, Education, Social Welfare and Taxation. By Laura Creagh, Alanna Smyth,Fiona Lynam, Hannah Ortega- McCormack and Anna Mielczarek

  2. HEALTH

  3. €543m in cuts Extra charges on private treatment in public hospitals Abolish existing system of designated private/publicbeds (+€143m) Drug Payment Scheme monthly threshold up from €120 to €132 Reduction in the price of drugs

  4. 2% cut in disability, mental health and children’s services, saving €50m Staff ceiling of 103,800 employees to HSE in 2012 Reduction in health service employment levels. Reductions in the volume of expenditure on agency staff, overtime and premium payments Reductions in other measures to reduce pay costs, (+€145m)

  5. Education €132.3m in savings

  6. Higher Education(+€43.1m) • Increase current €2000 student contribution by €250 • 2% cuts in Higher Education funding in 2012 and 2013, with a further 1% in 2014 and 2015 • Termination of Technology Sector research programme • School Transport • Double primary charge from €50 to €100 • Double primary maximum charge to €220 • Equalise the primary charge for concessionary students from €200 to €100, resulting in -€0.4m

  7. Further Skills and Adult Education (+€3.7m) • Reduction in capitation grants across a range of further skills and adult education course eg. Post L.C by 2% in 2012 and 2013, and a further 1% in 2014 and 2015 • Reduction in allowances paid to 16-17 year olds on Youth Reach Community Training Centres and FAS courses of €40

  8. Student Support and Access (+€15.4m) • Amend Grants System for post-grad studies by paying fees only (no maintenance grant) for a special rate students, and providing €2000 fee contribution grant to a further 4000 students. Measures apply to new members only • 3% reduction in rate of student maintenance grant from 2012 • Reduce allocation to fund for students with disabilities by 20% Other savings (€39.3m) (VEC, Earlier policy measures, minor policy adjustments, reviewing allowances)

  9. €20.5bn spending SOCIAL WELFARE €475m saving

  10. No rate cuts to primary weekly social welfare payments Child Benefit for third and subsequent children reduced No more grants for multiple births Back to school clothing + footwear allowance age increased from 2 years to 4 years One parent family payment age limit for youngest child to be reduced to 12 years in 2012

  11. Jobseeker’s benefit to be based on a 5 day week, rather than on a 6 day week No more half payments for recipients of some other social welfare payments No more social welfare payments for community employment participants Disability allowance age to increase from 16 to 18 Fuel Allowance season to be reduced by 6 weeks (from 32 weeks to 26 weeks) Max hearing aid grant to drop from €750 to €500

  12. TAXES

  13. Carbon tax- increased from €15- €20 • VAT- Gone up from 21% to 23% • Introduction of household charge of €100 • No change in personal income tax • DIRT- Increased from 27% to 30% for annual payments. • Universal Social Charge to have exemption levels raised from €4,004 to €10,036 • Increase in Capital Gains Tax from 25% to 30% • Corporate Tax exemption for new start- up companies to be extended for the next 3 years • Increase in Motor Tax

  14. Source- Budget 2012 (images)

  15. COST OF LIVING

  16. Dublin is ranked as the 13th most expensive city in which to live In Dublin, the monthly cost of living is….. €1,000 for a single person €3,000 for a family of four €1,500 upwards to rent a good quality, two- bedroom apartment in the city Household Housing, electricity, household gas and fuels, mortgage and property taxes are very high compared to other countries Education Education costs are very low compared to other countries, regarding crèches, primary school and tertiary study fees. Transport Costs are very high in Ireland for public transport and are going to increase in 2012

  17. That’ All Folks!!!!!!!!!!!!!!!!! Thank You for Watching!!!! 

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