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| Version 0 | Version 1 |
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| Irish budget: Michael Noonan expected to announce cuts in personal taxation | Irish budget: Michael Noonan expected to announce cuts in personal taxation |
| (about 1 hour later) | |
| The Republic of Ireland's finance minister is due to announce tax cuts and spending increases in the country's last budget before an election. | The Republic of Ireland's finance minister is due to announce tax cuts and spending increases in the country's last budget before an election. |
| The country exited its international bailout programme in 2013 and is now Europe's fastest growing economy. | The country exited its international bailout programme in 2013 and is now Europe's fastest growing economy. |
| Finance Minister Michael Noonan is expected to announce a cut in personal taxation. | Finance Minister Michael Noonan is expected to announce a cut in personal taxation. |
| However, some analysts have warned that Mr Noonan should do more to tackle high levels of government debt. | However, some analysts have warned that Mr Noonan should do more to tackle high levels of government debt. |
| Threshold | Threshold |
| The governing coalition has indicated that there will be a modest giveaway of about 1.5bn euro (£1.1bn). | The governing coalition has indicated that there will be a modest giveaway of about 1.5bn euro (£1.1bn). |
| About half of that will reportedly be used to cut the unpopular Universal Social Charge (USC) which is sometimes called "the bailout tax". | |
| The threshold at which people pay USC is expected to rise to 13,000 euros (£9,646). | |
| There is also expected to be a new tax credit for self-employed people and an increased threshold for inheritance tax. | There is also expected to be a new tax credit for self-employed people and an increased threshold for inheritance tax. |
| There are reports that the old age pension will go up by 3 euros (£2.22) a week. There will also be an increase in the fuel allowance. | |
| It is understood that the government plans to create 2,200 new teaching posts and at least 500 additional jobs in policing. | |
| Mr Noonan is to address the Dáil at 14:15 BST. Public Expenditure Minister Brendan Howlin will set out spending plans when he speaks at 15:00 BST. | |
| The Republic of Ireland's economy, as measured by Gross Domestic Product (GDP), is growing at an annual rate of more than 6%. | The Republic of Ireland's economy, as measured by Gross Domestic Product (GDP), is growing at an annual rate of more than 6%. |
| The Gross National Product (GNP) measurement, which strips out some of the distorting activities of multi-national firms, is showing growth of about 5%. | The Gross National Product (GNP) measurement, which strips out some of the distorting activities of multi-national firms, is showing growth of about 5%. |
| Unemployment has come down from over 14% in 2012 to 9.4% in September, bringing welfare spending down significantly. | Unemployment has come down from over 14% in 2012 to 9.4% in September, bringing welfare spending down significantly. |
| Government debt has fallen to about 100% of GDP compared to a peak of 120% in 2012. | Government debt has fallen to about 100% of GDP compared to a peak of 120% in 2012. |
| The country's independent Fiscal Advisory Council has said the government's proposed package is "at the upper end of the range of prudent policies". | The country's independent Fiscal Advisory Council has said the government's proposed package is "at the upper end of the range of prudent policies". |
| It warns that the country's debt to GDP ratio "remains extremely high leaving the economy vulnerable to adverse growth and interest rate shocks". | It warns that the country's debt to GDP ratio "remains extremely high leaving the economy vulnerable to adverse growth and interest rate shocks". |
| Irish Prime Minister Enda Kenny has said that he intends to hold a general election in Spring 2016. | Irish Prime Minister Enda Kenny has said that he intends to hold a general election in Spring 2016. |
| His centre-right Fine Gael party is the senior partner in coalition with the centre-left Labour Party. | His centre-right Fine Gael party is the senior partner in coalition with the centre-left Labour Party. |
| Both parties are struggling in the polls despite the improving economy. | Both parties are struggling in the polls despite the improving economy. |