Ireland finds cash for some tax cuts

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Irish Finance Minister, Paschal Donohoe poses with a copy of the 2018 budget during a photocall in front of the Government Buildings in Dublin, Ireland. AFP

DUBLIN (Reuters) – Ireland’s finance minister sought to raise more than 800 million euros in extra revenue in a budget yesterday to give taxpayers a “modest” break and help tackle a housing crisis.

He also sought to balance the state’s books for the first time in a decade.

Ireland started reversing years of savage spending cuts and tax hikes in 2014 – about the time its economy began to rebound sharply from a deep financial crisis.

In the event, he boosted the budget package to 1.2 billion euros from the mere 350 million available chiefly through a four percentage point increase in stamp duty on commercial property, ensuring income tax cuts will not go into one pocket and come out the other.

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