01EE2013-02-20e0

User:rorynoonanDate:20/02/2013Time:11:11:32Edition:20/02/2013Wedwedecho200213Page:1Color:

S e r v i n g C o r k f o r 1 2 0 y e a r s

EE - V2

EDITION NO. 34,840WEDNESDAY, FEBRUARY 20, 2013 RRP: e1.50

20.02.13

Recommendedretail price

€1.50

Homeowners, familieswill be hit yet again

By RONAN BAGNALL

A NEW wave of wallet-draining measures areon theway—withmortgagehikes, petrol hikes,child benefit cuts as well as the first lettersoutlining the cost of the new property tax.

Mortgage interest repayments are due to rise for thou-sands of families at a time when the Government is consid-ering reforms that would reduce child benefit payments.The revenue commissioners are also preparing to send let-ters to every home in Ireland next month telling them howmuch property tax is due.

On top of this, a new survey by AA Ireland has revealedthat petrol prices are on the rise across Ireland for the firsttime in five months.

The oncoming wave of measures include:● AIB is planning a new increase in variable rate mort-gages for its 70,000 customers. The chief executive of thebank, David Duffy, confirmed the plans, but no date hasbeen given for the proposals to be implemented. Experts arepredicting that other lenders will follow AIB in raisingrates. Experts say banks want variable rates to go from4.3pc to 5pc which would add €1,000 to a €200,000 mortgage.● Householders can expect letters within weeks from theRevenue to homeowners all over the country to informthem how much they will be charged in July as part of thenew property tax regime. Tax on a house worth €200,000will this be charged €202 for the rest of this year and €405next year.● An expert group’s report, commissioned on behalf of theGovernment, was published today outlining proposed re-forms for child benefit payments.

The report favours a two-tier system with a reducedstandard rate of about €110 a month for each child — down€20 from the current €130 — with only the poorest familiesreceiving top-up payments.● See page two for more.

Darren Murphy from Passage who has been charged with the murder of Olivia Dunlea-O’Brien.See court report on page nine. Picture: Cork Courts Limited

TONIGHT

WEATHER F

L: 3°CPatchy cloud

Winds: SE at10-20 mph

Mortgage rise, petrol hikes, child benefit cuts on way

��

��

��

��

� ��

� ��

� ��

� � ��

��

��

��

� ��

� ��

� ��

� ��

��

��

��

��

��

��

��

� ��

� ��

� ��

� ��

� ��

��

��

��

�� !� �� !��&� �� ! !�� $ �� "�� &�!� �� ! �� &�"�� $��! �!

�� !� �&� �!� � ��$ �� "� �� $ &�� %��!�� $�� $�!� ��$ !�� !�� !��&�� & �� &�"!� !� ! ��#�� $� � �� "# � �#"��&#� "# %�$% �#�'��

�� '�! �#��%�# �� &� �"&!�

��

01EE2013-02-20e0

Documents

01EE2013-02-20e0