Thursday 23 November 2017

MY BUDGET: PRSI hike cuts chance of moving out of home and could raise rents

CHRISTINE Orford is worried about the increase to PRSI and the effect that this will have on her income.

Christine -- a journalist with IFP Media -- began her career this year and was looking forward to moving out of home.

"The increase in PRSI is a big thing for me because I am thinking of moving out in the New Year," Christine told the Herald.

"The rate of PRSI which I was paying already means that I could barely afford to move out anyway.

"This further increase means that I now will have to move into a less desirable place.

"This extra €5 a week will kill me," added Christine, who currently lives with her parents.

While Christine says that she got off lightly with the Budget compared to her colleagues who are homeowners, she is concerned about the potential knock-on effect of an increase in property tax.

"I'm a bit worried that landlords are going to put up the price of rent because they will now be paying more property tax," she said.

As a young full-time worker who enjoys socialising, the increase in the price of wine has left a bitter taste in her mouth.

"Wine is not a necessity, but at the same time it's one of those things that people enjoy and taking it away from people just before Christmas is tough."

One thing that Christine was happy to see increased in the Budget was the duty on cigarettes.

And she believes that smokers got off lightly.

"They should have increased cigarette tax more because of how bad it is for people," she said.

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