The total budget package will be 17.75 billion euro.
Finance Minister Paschal Donohoe has addressed the Dáil to outline Budget 2021, the biggest in the history of the state.
This year's Budget outlines just how the Government intends to meet the enormous challenges thrown up by Covid and Brexit going forward.
Minister Donohoe said the country faces "great uncertainty and increasing risk" due to the "enemy" that is Covid-19 and also Brexit.
He said "overcoming these challenges is the central task of this government."
This Budget has been designed on idea that there will NOT be a Brexit trade deal.
Here are the main points.
Summary: The total budget package will be 17.75 billion euro, broken into 17 billion in expenditure and 270 million in taxation measures.
There will be 8.5B on public services including 2.1B on contingency funding.
Capital spending will increase by 1.6bn and there will be a 3.4bn euro recovery fund
A deficit of 21.5 billion will be recorded this year.
Covid-19: In total there will be 8.5 Billion for Covid supports. In terms of a vaccine, Ireland has signed up to EU advance purchase agreements for potential Covid vaccines.
There will be an extra 1,146 actue beds, with an increase in critical care beds to 321 by end of year from 255 pre-COVID.
Plus 1,250 community beds in 2021 including 600 new rehabilitation beds
Covid affected businesses: There will be a new COVID restrictions support scheme to provide targeted support for businesses that have temporarily closed because of the pandemic.
With the government to pay up to €5k a week to businesses forced to close temporarily because of Level 3 restrictions or higher from today to Mar 31st. Based on 10% of VAT exclusive turnover for 2019 up to €1m, 5% thereafter.
Temporary Wage Subsidy Scheme: The Temporary Wage Subsidy Scheme or a similar scheme will be extended out to the end of 2021.
The Government will apply the SURE EU fund to support this, which could yield 2.5 billion euro.
Employment: There will be a 3.4 billion euro recovery fund aimed at increasing employment. The fund will be targeted to boost domestic demand.
While the Department of Finance is forecasting a total loss of approximately 320,000 jobs this year, with this recovering by approx 155,000 next year.
Working from home: On working from home, Minister Donohoe says workers may claim a tax deduction for utility expenses and this will now also include the coast of broadband.
Housing: There will be 5.2 billion for Dept of Housing - an increase of 773 million on 2020.
Plus 500m for capital expenditure on housing for 9,500 new social housing units in 2021
There will be 22m given for homelessness programmes including additional beds.
Along with 65m for deep retrofitting of existing social housing.
210m will be given under the Rebuilding Ireland Home Loan scheme.
Income Tax: No broad changes to income tax credits or bands.
The ceiling for the second USC rate adjusted up to 20,687.
Weekly threshold for higher rate of employers PRSI will go from €394 to €398.
Self employed income tax credit to rise by €150 to €1650.
Increase in the Dependent Relative Tax Credit by 70€ to €245.
Carbon Tax and price of fuel: From midnight tonight, the carbon tax will increase by €7.50 every year out to 2029 and then by €6.50 in 2030 to achieve €100 per tonne.
Filling a tank of diesel will cost about €1.50 more, a tank of petrol €1.30.
There will be 90c extra on a bag of coal, 20c on a bale of briquettes, and home heating oil is set to increase.
This will be offset for the most vulnerable by increases in the living alone allowance and the fuel allowance.
Changes to VRT will make buying a polluting car more expensive, and changes to motor tax will mean those with older or more polluting cars will end up paying somewhere between 10 and 50 euro more a year.
Brexit: 340 million of voted expenditure will be spent on Brexit supports in 2021, that includes money for ports and airports and 500 staff for customs.
Agriculture: €179m extra has been announced for Dept of Agriculture. Funding to include controls on agri-food exports and imports to/from the UK post Brexit
Cigarettes and alcohol: A pack of 20 cigarettes will increase by 50c. Pro-rata increase on other tobacco products.
€14 now for most popular pack of cigarettes
Education: 80 million extra will be allocated for school building programme, ICT and minor works scheme for Dept of Education.
Full time Third level students will all be given a 250 euro cash sum by the government to help them this year.
Roads and Rail: Construction on N56 in Donegal, N4 in Sligo, N5 in Mayo, n22 and Dunkettle interchange in Cork have been announced.
Public transport: An additional 1 billion euro will be allocated for public transport in 2021.
Carers: There will be an increase in carers support grant by €150 to €1850 a year.
Parents Benefit: This will be extended by a further three weeks.
