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Updated 10.57 pm
THE UNIVERSAL SOCIAL Charge (USC) is going nowhere for the time being according to Finance Minister Michael Noonan.
The minister, speaking to Pat Kenny on Newstalk this morning, said that the tax is here for the “foreseeable future”.
The Government announced in last month’s budget that the USC tax bands are changing to reduce people’s tax burden but, in today’s interview, Noonan said the Government has no plans to abolish it completely.
“It collects an enormous amount of money, over €4.5 billion. It’s going to be part of the personal taxation code,” he said.
“There will be USC for the foreseeable future. The adjustments for lower paid people will be through adjustments through USC. I’d like them to pay a little but not a lot.”
Noonan also said that he would like to see the Central Bank’s new mortgage lending rules relaxed to allow more people secure 80%-plus mortgages.
Under the rules, banks can have no more than 15% of their loan book made up of mortgages over 80% of value, Noonan says he would like to see this increased.
“I would like to see that 20-25% and I think there’s scope to do that,” he said.
Noonan was also asked about possible coalitions after the next General Election, saying that his party’s “preferred Government will be Fine Gael and Labour”.
“We don’t know where Fianna Fáil stand,” he said on a possible coalition between the two parties.
IMF
Noonan also announced today that Ireland is to pay its first €9 billion tranche back to the International Monetary Fund next month.
The early repayment will save us €750 million in interest, according to the minister, and will take place on two dates in December.
Noonan said that he expects interest savings of €1.5 billion to be achieved from early repayment of the total €18 billion, though the actual savings will depend on the timing and markets.
“By reducing the interest bill on the national debt we reduce the amount of tax revenues and borrowing that go towards financing the debt,” he said. “This frees up resources for investment in activities that will grow the economy, create jobs and opportunities. This has knock-on benefits across the economy and can lower the cost of debt for businesses and families.”
He added that it is “essential” that we improve debt sustainability in order to break the boom and bust cycle of the past.
- Additional reporting by Rónán Duffy
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I think there will be a lot more Bulls coming out following this story.
Simpson scene:- Marge can i have a pet duck ? No Homer , you have Benji the bull ! . well can he have a duck?
He’s had to emigrate to live a life true to himself. Sounds like a well-trodden Irish path.
He doesn’t get to be himself- he won’t be a gay bull anymore he’ll be a bullock -
The Iona Institute are hopefully pissed off over this.. The bull raised cash faster than they did. :-)
Please stop calling it an “Institute”: it’s a lobby group that writes conservative opinion pieces which it refers to as “papers”.
UK law would not permit an organisation like this to refer to itself as an “Institute” and nor should secular Ireland.
The only learned thing about his conservative lobby group is the name “Iona”, which it has re-appropriated from the Abbey set up in Scotland by St Columba.
Rank over!
@winding. Utterly and completely agree with you.
But that’s the name they legally got, so that’s what the homophobic sods have to be called.
However, from now on, I’ll phrase them this way… Iona ‘Institute’.
Apols and lesson learned.
@David: Thanks!
I would suggest that if the Iona ‘Institute’ need money that badly, then they should apply for funding like real centres of learning do – from the Higher Education Authority.
I suspect that’d quickly dispel their confusion about the difference between their lobby group and the many bona fide academic institutions whose reputations they bring into disrepute by using ‘Institute’ in their title.
Now can these same people put their hands in their pockets and give money to child line also. Iv nothing against a gay bull but some people need to get their priorities right
Three questions: Why are humans more important than cattle? Why do you care what people donate their own money to? Do you regularly donate to child line?
Yes, I believe children that may need to ring child line are more important than this bull, I do give to charity by the way, and no I don’t care what other people do with their money. But are you honestly saying that saving this bull is worth more than children living in fear having a number to ring when they need it?
I believe animals are as important as humans. That’s what animal rights is about. So these people who wanted to donate, it’s their choice and their right to have those beliefs.
I believe it’s equally important to save a bull from fear/harm as to save a human from fear/harm.
Good luck with the mooove Benjy
I keep waiting for this to be confirmed as a wind up but it seems like its genuine. Sad reflection on society when something as trivial can not only garner publicity but actually raise money too. I look forward to the gay lobby getting behind (no pun intended) more noble causes.
I think it’s a sad reflection on society that people see animals’ lives as trivial. And this story is a good reflection on society.
So why aren’t you and the gay lobby out there campaigning to save straight bulls? How long have you been hetero phobic?
I am trying to save straight animals, haha. Most of the animals I try to save are straight or if they’re gay then I don’t know it…Most of the animals that ARAN tries to save are probably straight.
Fcuk sake, the bull isn’t fir for purpose, he should be made into burgers!
What because an animal isnt fit for purpose in industry eyes that he deserves to be slaughtered.
so any animal not fit for purpose deserves death? Are u serious? This is why animals rights are always stampled on . Human race is turning into something vile.
Would u say the same about a human not been fit for purpose?
It’s strange that a bull got saved only because it raped other bulls.
I mean, no other bulls were a fan of Benji’s prodding, I’m sure.
He should be hanging up in a factory!!
Where does AI man get his stock, couldn’t benjin have been a donor.
If benjy was that good a bull he would have(a) lived out his life at an AI station (with other bulls )
And (b) he wouldn’t have been bought for 5 grand or so -
He’s a hornless bull
What a load of bo#lo#ks.
Good bye my friend
Must have been some closet.
I wouldn’t mind but he’s an absolutely dreadful looking bull. If he was straight he’d easily be bought for less than 2000, total discrimination against heterosexual Bulls.
A very moving story. As I get older, I’m moving towards a veggie diet. I know I’m very sentimental over
Animals. I no longer eat beef or lamb. Animals do know when they get near the slaughter house. It’s terrible,
They are living beings.
That bull looks fairly feminine
Good im glad he was saved. Jus cause he doesn serve industry expectations.
Hate what this world has become oh no there no use slaughter them as if a life means nothing.
Shameful and humans should be ashamed of themselves to allow other animals lifes be so disposable to them.
Sometimes its evident humans are the worst thing to happen this world. Destroying every th in and anything
What a relief for the straight bulls of Ireland.
have your say