Private pension funds are to be hit by a 0.6%
levy. It will operate for a period of four years and is
expected to raise €1.88bn.
VAT on a range of tourism-related goods and services is to be
reduced from 13.5% to 9% . The reduction will take effect on
the 1st July 2011 and will remain in force until the end
of 2013. This measure will be reviewed at the end of
2012.
PRSI for low-paid workers will be halved and is likely to
affect 600,000 workers.
The cut in the minimum wage that occurred in February is to be
restored to €8.65 as and from the 1st July,
2011.
A new SME loan scheme was announced by Mr. Noonan for
small and medium-sized enterprises.
Mr. Noonan announced the setting-up of an internship programme and
those who take part in the Scheme will be paid €50 per
week on top of their social-welfare entitlements. 20,000
places have been allocated to the programme.
The corporate tax rate of 12.5% remains unchanged.
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