The Minister for Finance Mr McCreevy confirmed in his Budget speech today that he would not be borrowing any monies in 2002 and predicted a Government surplus of €837 million in 2002.
Mr McCreevy acknowledged that as a result of the recent economic downturn, resources were more constrained than he would have wished and his spending plans were based on a cautious assessment of the economic prospects next year.
The health service will receive an additional €425 million, bringing total expenditure on health to €8.2 billion.
Social welfare will receive €1,079 million. The contributory old age pension will rose by £10 to 116 per week while the non contributory pension has been increased to £105 per week. All social welfare increase will be effective from January 1st 2002.
Short term unemployment assistance will increase by £9.50 per week and the fuel allowance has been increased by £2.09 per week.
Child benefit for first and second children will increase by £25 per month while the allowance for third and fourth children will rise by £30 per month.