Budget 2014 will be presented on Tuesday 15 October this year, Minister Noonan confirmed in response to a parliamentary question this week. The Minister also said that the Government has decided that the Finance Bill should complete its passage through the Oireachtas by 31 December each year. This timeline is considerably shorter than the current requirement that it must be enacted within 120 days of the Budget.
It is positive that we have a confirmed earlier date and that the Finance Bill will be enacted within a shorter time span. This reduces uncertainty and will hopefully have a more positive effect on consumer and business confidence. However the content of Budget 2014 will no doubt be key to providing this confidence!
Deirdre McDermott is Audit Director in OSK. Contact OSK for all your tax and accounting services.
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