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BOOKIES TIP COWEN FOR ROBIN HOOD BUDGET

Bookies Paddy Power are betting Taoiseach Brian Cowen will deliver a ‘Robin Hood’ budget come the 9th December.

The bookmaker has released a series of budget betting specials ahead of tomorrow’s pre-budget debate in the Dail and if the odds are correct it signals bad news for Ireland’s elite!

Paddy Power are quoting 1/10 that child benefit will be reduced for parents earning €100,000 plus per annum, and just 5/2 that one or more of the income levies will be increased for people earning €100,000 upwards.

As far as tax and PRSI are concerned, Paddy Power are betting 3/1 that a third rate of income tax will be introduced for people earning over €100,000 while it’s touch and go in the PRSI stakes with the bookmaker quoting 5/6 your pick that the PRSI limit will be increased to over €100,000.

Another area that could be hit in this year’s budget could be ‘Trophy Houses’. It’s 2/1 that Taoiseach Brian Cowen introduces a special tax on people who own trophy houses – that’s any house worth more than €1million.

It’s still unclear what lies in store for the public sector but it’s 10/1 that the top public sector salary gets reduced to €150,000 or less per annum.

Sharon McHugh, spokesperson for Paddy Power said: “If the Taoiseach plays his cards right Budget 2009 could be an opportunity for him to change from the Sheriff of Nottingham to Robin Hood!”

PRE BUDGET SPECIALS

Robin Hood Cuts – The Rich Get Poorer

Will children’s allowance be reduced for people earning €100,000+?
1/10    Yes
5/1    No

Will a 3rd rate of Income Tax be introduced to people earning €100,000 per annum?
3/1    Yes
1/5    No

Will PRSI limit be increased to over €100,000?
5/6    Yes
5/6    No

Will one or more of the income levies be increased for people earning €100,000+ per year?
5/2    Yes
1/4    No

Trophy Houses Targeted

Will there be a special tax on people who own trophy houses*?
2/1    Yes
1/3    No
* Trophy house = houses worth €1miilion or more

Public Sector Pressure

Will the top public sector salary be reduced to €150,000 or less per annum?
10/1    Yes
1/20    No

Other Pre Budget Specials

What will happen the Income Tax levy?
1/10    Unchanged
5/1     Abolished
10/1     Increased
12/1     Decreased

What will happen to cigarette duty?
2/5     Increased
9/4     No Change
8/1     Reduced

What will happen duty on beer?
8/11    No Change
5/4     Increased
6/1     Reduced

What will happen to the 41% tax band?
1/3     No Change
2/1     Increased
12/1     Reduced

Ends