Budget 2008: main points

A look at the main talking points from yesterday's Budget.

A look at the main talking points from yesterday's Budget.

Personal tax credit is to be increased by €70 for a single person and €140 for a married couple.

The 20 per cent standard income tax band is widened by €1,400 a year to €35,400 for a single person and €44,400 for married one-earner couples. The band for married two-earner couples will be €70,800.

Houses with a value of less than €1 million will be liable to stamp duty of 7 per cent with no tax due on the first €125,000. A 9 per cent stamp duty rate will apply on the balance of house prices over €1 million.

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Mortgage interest relief to rise by €2,000 for a single person and €4,000 for a married couple.

Excise duty on a packet of 20 cigarettes increased by 30 cent from midnight.

The cost of attending A&E without a doctor's letter of referral will go up from €60 to €66 from January 1st.

Duty on credit cards cut from €40 to €30, a 50 per cent cut in the duty on combined cards from €20 to €10 and the duty on ATM and debit cards reduced from €10 to €5.

Contributory pension is to rise by €14 to €223 a week, while non-contributory pension is to increase by €12 to €212 a week.

Child benefit to rise by €6 a month for the first and second child while there will be an increase of €8 for each subsequent child.

All other personal weekly social welfare rates will be increased by €12 a week, bringing the lowest full adult social welfare rate to €197.80 per week.

€370 million allocated to the Rural Environmental Protection Scheme - REPS 4 - to cover grants for approximately 60,000 farmers.