Unveiling Budget 2024, Minister Michael McGrath said he’s acutely aware that many household budgets are stretched at the moment.
In light of continued high inflation, a cost of living package worth €2.7 million has been announced, along with an income tax package worth €1.3 billion.
That will see the higher rate of income tax will increase to €42,000 and personal employee PAYE and earned income tax credits go up by €100.
The renter’s credit – introduced last year – will be increased to €750 for 2024.
While small landlords will benefit from a temporary tax relief scheme – rental income of €3,000 will be disregarded at standard rates in 2024, €4,000 in 2025, and €5,000 in 2026 and 2027.
Mortgage tax relief will come in the form of 1 year relief capped at €1,250.
The 4.5% rate will fall to 4%, with the entry rate into the third point of USC being raised to €25,760.
Three energy credits of €150 each will be paid to households this winter.
Carbon Tax is on the rise to €56 per tonne from tomorrow – which will add 2.5 cent to the price of diesel and 2.1 cent to petrol.
A pack of cigarettes will soon cost €16.75 – with Minister McGrath adding that a domestic tax on e-cigarettes will be introduced in next year’s budget.
Public Expenditure Minister Paschal Donohoe confirmed an additional payment will be made to those on social welfare in January:
Minister Paschal Donohoe announced permanent changes to social protection measures targeting the wellbeing of children:
There will be a €12 increase for anyone getting a weekly social protection payment.
Public Expenditure Minister Paschal Donohoe announced a number of measures:
Public Expenditure Minister Pascal Donohoe says the overall health budget for 2024 will be worth €22.5 billion:
Minister Paschal Donohoe announced five billion euro in capital funding for housing initiatives for 2024.
He outlined where some of that money will be spent:
€900 million is to be allocated to the National Development Plan in 2024.
Public Expenditure Minister Paschal Donohoe didn’t outline any specific projects:
The Government has provided funding for up to 1,000 members of An Garda Síochana, as well as 250 civilian staff in specialist roles.Public Expenditure Minister Paschal Donohoe says there will also be a €25 million increase to the Garda overtime budget:
€1.9 billion in funding for the Department of Agriculture Food and the Marine has been announced.
Minister Paschal Donohoe says some of the funding will go to agri-environmental actions:
€1.23 billion will be allocated for the Defence sector.
Public Expenditure Minister Paschal Donohoe says there will be funding for 400 more military personnel, including in cyber security:
Sinn Fein’s Finance Spokesperson and Donegal Deputy Pearse Doherty says the budget has failed to address the housing crisis:
There’ll be a 25% in childcare costs, which will be implemented from September 2024.
Social Democrats TD, Roisin Shorthall, welcomes the move, but has concerns about the increasing corporatisation of the childcare sector:
