Seanad debates

Wednesday, 4 December 2002

It will not come as a surprise that what are referred to as the "old reliables" feature in the Minister's Budget Statement. Most people will be relieved to hear that these will not be hit as hard as they feared. The 12.5% lower rate of VAT will be increased to 13.5% from 1 January next. Cigarettes and retail tobacco products will go up by the equivalent of 50 cent per packet of 20 cigarettes. Excise on spirits will be increased by 20 cent per standard measure and the rate on spirit-based ready to drink products or "alcopops" is being raised by 35 cent per bottle to align the rate with that on spirits. Diesel will be increased by 3 cent per litre. All these increases are VAT-inclusive and will apply from midnight tonight.

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