A report on the seventh review on the terms of Ireland’s EU-International Monetary Fund bailout, which was published this afternoon, states that revenue measures to raise at least €1.25 billion in the Budget will also include 

  • a broadening of the personal income tax base
  • a restructuring of motor tax
  • a property tax based on house valuation will be introduced
  • a reduction in general tax expenditures
  • an increase in excise duty and other indirect taxes

On the spending side, social expenditure reductions and a cut in the total pay and pensions bill will be part of consolidation measures worth €2.25 billion.