The Government has pledged to put more than a grand in the pocket of middle-earning workers. It will likely come through a mix of tax changes and spending measures
Taoiseach Leo Varadkar: 'It’s fair to say if you add it all up for the average, middle income worker, it’ll be more than €1,000. That’s not just the tax package, that’s taking into account once-off measures.
The main USC rate is 4.5 per cent, which applies on income between about €23,000 and €70,000. Cutting this rate to 4 per cent would mean a gain of about €135 a year for someone earing €50,000. Tweaks in the lower USC rates might increase this a bit. In total, the income tax package is likely to be worth €800 or more a year to a middle-income worker, earning enough to fully benefit from all the tax changes. The cash gains for lower earners are likely to be less, though presumably the Government will try to construct the package so the percentage gains in their income are similar to higher earners.The clearest signals have come in relation to energy credits.
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