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4 December 2002
Summary
Budgetary Objectives This Budget has three key objectives: To protect the weaker sections of society To invest in the future, to position ourselves for a return to
better growth levels, and To secure stable public finances to safeguard the gains we have
already made
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Summary of Economic Outlook
Economic growth (GDP) at 3½% next year
Employment up by about 11,000
Unemployment at 5¼% on average
Inflation stable at 4.8% and falling significantly
by 2005
Increase in gross spending of 5.7%, to €38 billion
in 2003
Exchequer Borrowing of €1.87 billion in 2003
A Debt Ratio of 34%of GDP, second lowest in the EU
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Personal Taxation Measures - Full year €186 million in personal tax reductions. - Employee (PAYE) tax credit increased by €140
to €800 per annum - Entry point to tax system raisedfrom €209 to €223
per week (90% of the minimum wage) - Income Tax exemption limits for those aged 65 years and
over increased by more than 15% to €15,000 single
and to €30,000 married per annum - First Time Buyers Mortgage Interest Relief upped by 25%
to €4,000 p.a. single and €8,000 p.a. married/widowed.
Relief period increased from five to seven years. 45,000 first
time buyers will benefit - 37,400 taxpayers will be removed from the tax
net in 2003, over a third of these are 65 years and over Indirect Taxation From midnight 4 December: - Excise duty on 20 cigarettes up by 50c (incl. VAT) - Excise duty on spirits up by 20c per standard measure
(incl. VAT) - Excise duty on spirit- based ‘alcopops’ up by 35c per
bottle (incl. VAT) - Excise duty on auto diesel up by 3c per litre (incl.
of VAT) From 1 January 2003 - 12½% rate of VAT up by 1% to 13½% - Vehicle Registration Tax increased on certain larger cars Business Taxation Measures - Standard rate of corporation tax on trading profits will fall
to 12½% from 1 January 2003 - Levy on Financial Institutions to raise €100 million per
annum in period 2003-2005 - Final termination date of 31 December 2004 set for a range of
tax incentive schemes - Write-off for capital allowances on plant, machinery & vehicles
to be spread over 8 years instead of 5 - Restriction of capital allowances for hotels and abolition for
holiday cottages - Tax shelters and loopholes closed saving up to €10 million per
year over 5-8 years 
Stamp Duties - Increased stamp duty rates on non-residential property depending
on value - Increase in stamp duties: - on cheques from 8 to 15 cent per cheque - on credit cards from €19 to €40 per annum - on ATM cards from €6.25 to €10 per annum New stamp duty on Laser cards of €10 per annum Stamp duty exemption for young trained farmers extended for 3
years Capital Gains Tax Earlier payment of Capital Gains Tax to bring in €250 million
in 2003 Elimination of roll-over relief and curtailment of indexation
relief for capital gainstax to bring in an estimated €100
million in a full year Closure of CGT loophole to protect the revenue base Capital Expenditure Extra €209 million in 2003 for National Roads construction with
total spending on roads next year of €1.25 billion Social Welfare - Maximum rates for old age and related pensions increased
by €10 per week from January 2003 - Over 66 rate of Widow(er)’s (Contributory) Pension and Deserted
Wives Benefit increased by €11 per week - Maximum weekly personal rate for recipients under 66 years increased
by €7 per week - All other personal rates increased by €6 per week - Qualified Adult Allowance payments increased by
at least €4 per week - Family Income Supplement income thresholds increased by €17 per
week - Means test disregard for Carers Allowance increased
from April 2003 - An increase in the annual Respite Care Grant to €735, from
June 2003 - Hearing Aid Grant doubled to €700 Children - Child Benefit to increase by €8 (1st and
2nd children) to €125.60 per month and by €10
(3rd and subsequent children) to €157.30 from April
2003 - Back to School Clothing and Footwear Allowance
for children aged 12 and over increased by €30 to €150,
from June 2003 - Additional funding for current School Meals Programme
Coimriú
Cuspóirí Buiséadacha
Tá trí chuspóir bharrthábhachtacha ag an mBuiséad seo: Na codanna is laige den phobal a chosaint Infheistíocht a dhéanamh sa todhchaí, lenár n-oiriúnú le haghaidh
leibhéal fáis níos fearr amach anseo, agus Cobhsaíocht san airgeadas poiblí a dhaingniú chun an dul chun
cinn atá bainte amach againn cheana a chaomhnú.
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Coimriú ar an Dealramh Eacnamaíoch
Fás eacnamaíoch (Olltáirgeacht Náisiúnta (OTN)) de
réir 3½% an bhliain seo chugainnn
Méadú de 11,000 nó mar sin san fhostaíocht
Dífhostaíocht ag ráta 5¼% ar an meán
An boilsciú go cobhsaí ag 4.8% agus é ag titim go
suntasach faoi 2005
Méadú de 5.7% sa chaiteachas comhlán, go dtí €38
billiún in 2003
Iasacht Státchiste de €1.87 billiún in 2003
A Cóimheas fiachais de réir 34%den OTN, an dara ceann ísle
san Aontas Eorpach
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Bearta um Chánachas Pearsanta - Laghduithe cánach pearsanta de €186 million i
mbliain iomlán. - Méadú i gcreidmheas cánach fostaí (ÍMAT) de €140
go dtí €800 sa bhliain - Eardú sa phointe iontrála ar an gcóras cánach ó €209
go dtí €223 sa tseachtain (90% den íosphá) - Teorainneacha díolúine ó Cháin Ioncaim do dhaoine
os cionn 65 bliana méadaithe de bhreis agus 15% go dtí €15,000 i
gcás duine shingil agus go dtí €30,000 i gcás lánúine
pósta - Faoiseamh ó Ús Morgáiste do Cheannaitheoirí Chéad
Uaire méadaithe de 25% go dtí €4,000 sa bhliain do
dhuine singil agus go dtí €8,000 sa bhliain do dhaoine
pósta/bhaintreacha (fir). Síneadh sa tréimhse faoisimh ó chúig
bliana go dtí seacht mbliana. Gnóthóidh 45,000 ceannaitheoirí chéad
uaire tairbhe. - Tógfar 37,400 cáiníocóirí as an líon cánach in
2003; tá níos mó ná trian díobh 65 bliana d’aois nó os a chionn Cánachas Indíreach Ó mheán oíche 4 Nollaig: - Dleacht mháil ar 20 toitín ardaithe de 50c (CBL san áireamh) - Dleacht mháil ar bhiotáille ardaithe de 20c an miosúr
caighdeánach (CBL san áireamh) - Dleacht mháil ar ‘alcopops’ le bonn biotáille ardaithe de 35c an
buidéal (CBL san áireamh incl. VAT) - Dleacht mháil ar dhíosal gluaisteáin ardaithe de 3c an
líotar (CBL san áireamh) Ó 1 Eanáir 2003 - An ráta CBL de 12½% ardaithe de 1% go dtí 13½% - Táille Chlárúcháin Feithiclí méadaithe i gcás carranna móra áirithe Bearta um Chánachas Gnó - Titfidh an ráta caighdeánach cánach corparáide ar bhrabús trádála
go dtí 12½% ó 1 Eanáir 2003 - Tobhach ar Institiúidí Airgeadais
le €100 million a ghnóthú in aghaidh na bliana le linn
na tréimhse 2003-2005 - An dáta 31 Nollaig 2004 socraithe mar an dáta cinnidh deiridh
i gcás réimse scéimeanna dreasachta cánach - Díscríobh liúntas caipitil i leith gléasra, innealra & feithiclí le
síneadh thar 8 mbliana in áit 5 bliana - Srianadh ar liúntais chaipitil i leith óstlann agus deireadh
le liúntais i leith teachíní saoire - Críoch le dídeana agus le poill éalaithe cánach le sábháil airgid
suas go dtí €10 milliún sa bhliain thar thréimhse 5-8
mbliana
Dleachtanna Stampála - Méadú sna rátaí stampála ar mhaoin neamhchónaitheach de réir
luacha - Méadú sna rátaí stampála: - ar sheiceanna ó 8 to 15 ceint ar gach seic - ar chártaí creidmheasa ó €19 go dtí €40 sa bhliain - ar chártaí ATM ó €6.25 go dtí €10 sa bhliain Dleacht stampála nua de €10 sa bhliain ar chártaí léasair Síneadh de 3 bliana sa tréimhse dhíolúine ó cháin stampála do
fheirmeoirí traenáilte óga Cáin ar Ghnóthachain Chaipitiúla (CGC) Íocaíocht níos luaithe de Cháin Ghnóthachain Chaipitiúla le €250
milliún a shaothrú in 2003 Críoch le faoiseamh rollta ar aghaidh (roll-over) agus
ciorrú ar fhaoiseamh innéacsaithe i leith cánach ar ghnóthachain
chaipitiúla, bearta a shaothróidh, meastar, €100 milliún i
mbliain iomlán. Bealach éalaithe CGC a dhúnadh chun an bonn ioncaim a chosaint Caiteachas Caipitil €209 milliún sa bhreis in 2003 le haghaidh tógáil
Bóithre Náisiúnta, le caiteachasiomlán ar bhóithre an
bhliain seo chugainn de €1.25 billiún Leas Sóisialach - Uasrátaí pinsean seanaoise agus pinsean gaolmhar méadaithe
de €10 in aghaidh na seachtaine ó Eanáir 2003 - An ráta do dhaoine os cionn 66 i leith Pinsean (Ranníocaíoch)
Baintreach (Fir) agus Sochar Banchéile Thréigthe méadaithe
de €11 sa tseachtain - An t-uasráta pearsanta seachtainiúil le haghaidh daoine faoi
66 bliana a fhaigheann sochar méadaithe de €7 sa tseachtain - Gach ráta pearsanta eile méadaithe de €6 sa tseachtain - Íocaíochtaí Liúntais Aosaigh Choinníollaigh méadaithe
de €4 ar a laghad sa tseachtain - Na tairsigh ioncaim i leith Forlíonaidh Ioncaim méadaithe
de €17 sa tseachtain - An neamhaird ar thástáil acmhainne i gcás Liúntais Chúramóirí méadaithe ó Aibreán
2003 - Méadú go dtí €735 sa Deontas Sosa bliantúil
do Chúramóirí ó Mheitheamh 2003 - Dúbailt sa Deontas um Áis Éisteachta go dtí €700 Leanaí sSochar Linbh le méadú de €8 (1ú agus 2ú leanbh)
go dtí €125.60 sa mhí agus de €10 (3ú leanbh
agus breis) go dtí €157.30 ó Aibreán 2003 - Liúntas Éadaigh agus Cosbhirt chun Dul ar Ais
ar Scoil i gcomhair leanaí 12 bhlian d’aois agus níos mó méadaithe
de €30 go ddtí €150, ó Mheitheamh 2003 - Maoiniú breise don Chlár Béilí Scoile reatha
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