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Budget 2012 and YOU
Ouch: Cuts, hikes and young people.
The negativity storm swirling around this year's budget is lethal! If you're anything like the Crew at SpunOut, you've been trying your best to dodge the moans and groans and just pick up the odd detail here and there. But, we've decided it's time to face the facts and know what we've got to deal with. ALL of the info found on www.SpunOut.ie is now 100% up-to-date with the latest facts, so you can continue to rely on us for solid and simple info. No sweat, like!
(Theme music to listen to while reading this article)
Here are the top changes that will affect young people:
Unemployed
- No overall change to headline Social Welfare payments (phew!)
- Job Seekers Allowance will be based on a 5 day week rather than the existing 6 day week basis. This means that for each day that a person is unemployed, one-fifth of the normal rate of Jobseeker's Benefit is payable and if they get part-time work for 2 days, they will get three-fifths of the normal Jobseeker's Benefit for that week
At home
- Rent Supplement : The minimum contribution by single tenants towards rent for the purposes of the Rent Supplement scheme will be increased to €30 per week (from €24 per week). The minimum contribution payable by couples will be €35 per week
- Fuel allowance: Reduce fuel season by 6 weeks from 32 to 26 weeks for new and existing recipients
Tax Man!
- VAT Rise in rate from 21% to 23% + guarantee of no further hikes in this rate during the lifetime of this government
- Cigarettes tax up by 25% (pack of 20 cigarettes)
- Alcohol: Legislation will be published in 2012 to deal with alcohol abuse issues (including low-cost alcohol sold in off-licences and supermarkets)
- Petrol up by 1.4 cent/ litre
- Diesel up by 1.6 cent/ litre
- Motor Tax new rates: Band A from 104 to 160(+56) Band B from 156 to 225 (+69) Band C from 302 to 330 (+28) Band D from 447 to 481 (+34)
Young mums & da’s
- Child Benefit will stay at €140 per month for the first 2 children; €148 for the 3rd child; and €160 for the 4th or more children
Students
- Core funding for higher education cut by 2%
- The student grant reduced by 3%. This reduction applies to existing and new grant-holders from January 2012. The value of certain capital assets will be taken into account in the means test for student grants from 2013.
- New postgraduate students (whose means would formerly have qualified them for the special rate of student grant) now only get a fee grant. They will not get a maintenance grant. A €2,000 fee grant will be paid to a further 4,000 students. Existing grant-holders will not be affected.
- Cash for the Fund for Students with Disabilities cut by 20%
- College Registration Fees: 3rd-level students must pay €250 more
- Back to Education Allowance: The Cost of Education Allowance (the annual grant which accompanies the Back to Education Allowance) cut from €500 to €300
MORE INFO: Citizens Information Budget 2012
Ouch.
If this list wrecks you head: 10 instant stress relievers!
If this list makes you want to cry: How to manage mixed feelings
If this list pisses you off: Vent!
If you’re in dire need of distraction: 700 things to do before you die
If you need to talk to someone ASAP: Call Samaritans 24 hours a day 1850 609090 or 08457 909090 in Northern Ireland. Email them jo@samaritans.org
Mind yourselves and go easy. The system may fail you, but don't fail yourself!
- The SpunOut Crew
