The National Recovery Plan How It Effects You

For those of you who would like to read the full 140 page text of the “National Recovery Plan” Please click Here.

13 Main Points of the National Recovery Plan 2011-2014:

1. €15bn in measures aim to bring deficit under 3% GDP by 2014.
2. Entry point for income tax to fall to €15,300, from €18,300 currently, by 2014.
3. Minimum wage to be reduced by €1 to €7.65,with reduction of social welfare spending of €2.8bn now targeted.
4. Site valuation tax to be introduced of €100, with the introduction of a site value tax in 2012.
5. Domestic water charges to be introduced by 2014. Up to €550 million from the National Pensions Reserve Fund has been earmarked to be used to undertake the meter installation programme, to allow water charges to be levied from 2014.
6. Reform of capital acquisitions, capital gains tax
7. Students’ registration fee to rise from €1,500 to €2,000, up 33%.
8. Cut in public service staff by 24,750 from end-2008 levels to 2005 levels with 10% pay cut, new pension scheme for new public sector entrants.
9. Standard VAT rate to rise from 21% to 23% in 2014.
10. Pension-related tax changes to yield €700mTax savings of €240m on public sector pension deductions
11. €6bn of adjustments to be front-loaded in 2011.
12. An extra €1.9bn sought via income tax changes.
13. Overall pay adjustments of €1.2bn by 2014.

The People Before Profit Alliance have called for a general strike along with a movement of civil disobedience across the country.