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Government Jobs Initiative Announced

10th May 2011

The government today announced details of their jobs initiative. A summary of the main aspects are as follows:

• Air travel tax to be reduced to zero, subject to airlines’ agreement on increasing passenger numbers.
• Lower 9% VAT rate to apply mainly to restaurant & catering services, hotel and holiday accommodation, admission to certain public events, hairdressing, and printed materials such as newspapers and brochures. Effective period of 1 July 2011 to 31 December 2013.
• Halving of the lower rate of PRSI on jobs which pay up to €356 weekly.
• Additional expenditure on training, education and up-skilling placements.
• Increased funding of home energy efficient schemes, schools capital budget, smarter travel projects, to create additional employment.

The above to be funded by 0.6% levy on pension funds approved under Irish Tax Legislation for the period 2011 to 2015.

To read the full Jobs Initiative document from the RTE website please click here

A Finance Bill will be required in order to bring the above measures into law.

Whilst every care has been taken in the production of this summary, neither Royal Canal Financial Control Services nor Ronan Duffy and Co. can be held responsible for any action taken or deferred, resulting from any errors contained therein. For a more comprehensive summary please refer to the government press release.

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