Immigration to Ireland focus on Ireland's economy: On the 13th, the Irish government submitted its 2016 fiscal year budget to Parliament, announcing new policies such as tax reductions and increased benefits to promote the country's continued economic recovery and growth momentum.
Regarding tax reductions, starting in 2016, the government will lower the Universal Social Charge (USC) rate while raising the entry threshold for this tax from €12,000 to €13,000 per year in total income; individuals earning less than this amount will be exempt from the Universal Social Charge.
Regarding the increase in benefits, starting in 2016, the government will expand the scope of free preschool childcare and education, allowing all children aged 3 to 5 and a half to enjoy this benefit. The Child Benefit will increase by €5 per month starting in 2016, bringing the monthly benefit to €140 per child. Furthermore, the government will extend the free General Practitioner (GP) visit service to all children under 12 years of age.
The government will also increase the State Pension for retirees, fuel allowances, and respite care payments for the frail elderly, while also increasing the Christmas bonus for social welfare recipients.
Irish Minister for Finance Michael Noonan stated in Parliament that day that Ireland is poised to become the fastest-growing economy in the Eurozone for the second consecutive year. The economy is projected to grow by 6.2% this year and by 4.3% next year. This year, the country's fiscal deficit as a percentage of GDP is expected to fall to 2.1%, which is lower than the 2.7% target set by the government at the beginning of the year and well below the 3% threshold set by the European Union.