Government Announces Jobs Initiative

Author:Mr Patrick Dorgan, Eileen Nagle and Gaffney David
Profession:Coakley Moloney

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...

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