Daft Property - Irish Property News

Budget 2010: Brian's bitter pill... FINANCE Minister Brian Lenihan yesterday chose to avoid new income taxes by instead slashing social welfare payments and public sector pay. But he insisted "the worst is over" after delivering his third Budget in 14 months. However, there is plenty more pain to come as Mr Lenihan last night revealed plans to achieve €2bn more in cutbacks in 2011 through water charges, a property tax and public sector reforms. The Government is also planning a radical overhaul of the PRSI, income and health levy system, which will also widen the tax base. Mr Lenihan cut €4bn from spending in Budget 2010 and introduced carbon taxes and stealth charges in the health sector. But his Budget was branded as lacking fairness as it hit those on low incomes in the public sector and those dependent on social welfare. The salaries of Taoiseach Brian Cowen and his ministers were reduced by 20pc and 15pc respectively -- but this included the previous 10pc voluntary c...