James Farnan is married and works in the industrial sector. His wife is attending a back to education course and his income in less than €20,000 per year.
James doesn’t know if he agrees with the Four Year Plan entirely; his main concern is how income tax might be affected by the budget.
After working very hard for everything I have, I fear how things will look three or four years down the road. There was no positive message coming out of today’s budget – I cannot understand where the minister is getting all this growth in our GDP from over the next 4 years. The plan does not give me much hope for our country… I don’t think we have the right leadership or determination from any political party to take us forward.
James is looking at paying extra in taxes as well as his wife’s allowance being cut, which will have a significant effect on their household income:
Based on the information I have, it seems that I now come in to the tax bracket. Combined with the levies I expect to pay around €2,000 per year. My work needs me to travel a round trip of 140km per day this will cost me €600 per year.
Based on tax credits and levies as they are today, reductions in my wife’s allowance of €8 per week will be €416 per year. Total yearly cost is €3016 or €58 per week.
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