Jobs Initiative, Main Points

 A 0.6 per cent levy on pension funds to raise €470 million a year.VAT on tourism-related goods and services will be cut to 9 per cent.

Air travel tax will be suspended.

Employers’ PRSI for workers on below €356 a week will be halved.

The minimum wage to be restored to €8.65 per hour from July 1st.

Extra funds for work on regional roads and schools.

More training places, back to education initiatives and internship scheme will provide 20,900 places.

Pension Levy to be announced on Tuesday

Minister for Finance, Michael Noonan, will confirm a 0.5% levy on all private pension funds next Tuesday.

They intend to pay for the new governments 'Jobs Initiative' with the levy. It will stay in place for 4 years, to say that this could prove controversial is an understatement. Temporary Levy's in Ireland have a nasty habit of becoming permanent when Governments realise they cannot forgo the income that they generate.

When more is announced i will update with further posts.

FS