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BUDGE T OVERVIEW

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The coalition has made it s multi-billion-euro pitch to voters ahead of the general elec tion, with an € 8.3bn Budget comprising €1 4bn in tax cut s and € 6 9bn in new spending.

Finance Minister Jack Chambers said the changes to personal income taxes would suppor t low and middle-income earners.

announced in the Budget should leave most people the entr y point for the higher rate of tax, a number of hikes in social welfare payment s and a series of

The Government is increasing the main tax credit s –the personal, employee and earned income credit s –by €125 each.

This means the maximum employee tax credit for 2025 will be € 2,000 for a single person

There is al so a € 2,000 increase in what is called the be able to ear n more before paying the top tax rate

€ 42,000 to € 4 4,000.

And Mr Chambers reduced the Universal Social Charge (USC) middle rate from 4% to 3%.

PENSIONS & SOCIAL WELFARE

• We e k l y s o c ia l p

b y €12

• “Ba by boost” pay ment, parent s of new bor n given month of the ba by’s life

• € 400 lump sum pay ment for Wor king Family Pay ment re cipient s

• and De cember of € 280 per child

•

• C arers will re ceive an increased C arer ’ s Suppor t Grant of € 2000

•

COST OF LIVING PACK AGE

• € 2.2 billion pa ckage overall

• Reduced 9% VAT on ele c tricit y and gas ex tended until A pril 30th, 2025

• € 250 wor th of energ y credit s split over t wo pay ment s, one this year, other nex t year

TA X ATION

• Income tax pa ckage wor th €1.6 billion

• USC cut for entr y level to 3 %, rate increased by €1,622 to € 27,382

• Inheritance tax: C apital Acquisition Tax thresholds to increase from € 335,000 to € 400,000

• Proper ties wor th over €1 5 million to pay 6 % stamp dut y

• Lower rate of income tax band to rise from € 42,000 to € 4 4,000

HOUSING

• Dpt of Housing given € 7 8 bn, including € 2bn towards 10,000 new-build social homes in 2025

• € 680 m alloc ated to schemes w hich would

• €1 6 bn continue to suppor t 66,000 social housing tenancies alongside an additional 7,400 social homes nex t year, as well as 38,000 social housing leases alread y in pla ce.

• 10,000 new households under the Housing

A ssistance Pay ment and Rental Accommodation S chemes in 2025.

L ANDLORDS, REN TERS AND MOR TGAGE S

• Rent tax credit to rise by € 250 to €1,000 and € 2,000 for a jointly assessed couple for 2025

• E x tension of the Help to Bu y scheme to 2029

• E x tension of mor tgage interest relief to 2025

• Landlord let ting ex tension scheme ex tended

CHILDCARE & EDUCATION

• Free schoolbook s up to Leaving C er t

• Student and apprentice fees to be reduced by €1,000 in this ac ademic year

• Hot school meal s programme increases to all primar y school s

• Junior C er t and Leaving C er t fees waived

• resulting in a reduc tion in f ull-time child c are cost s by €1,100.

CLIMATE

• € 3 billion pa ckage to be set aside for climate transition bet ween 2026 and 2030

• VAT on heat pump installation to be reduced to 9 %

• C ar bon tax rate per tonne of c ar bon dioxide emit ted for petrol and diesel will go up € 7 50, from € 56 to € 63 50, from Oc tober 9th

• homes for 2025

• €1.25bn of additional f unding for the Land Development Agenc y

• € 3bn from sale of State’s AIB shares for infrastr uc ture spending

• € 750m for f ur ther development of ele c tricit y grid infrastr uc ture

HE ALTH

• Additional € 2.7 billion to be given to health se c tor over t wo years

• 495 new beds to be introduced in hospital and communit y ser vices

• E xemption from income, c apital gains and c apital a cquisitions taxes on pay ment s to women impa c ted by C er vic al Che ck screening failures

• C ontinued suppor t for women ’ s health measures, including increased a ccess to IVF and Hor mone Repla cement T herapy free of charge

PUBLIC TR ANSP OR T AND INFR A S TRUC T URE

• € 3.9 billion pa ckage

• Free public transpor t expanded for all children under the age of 9

• € 99 million for development of the Por t of C or k .

• Free public transpor t for those aged between 5 and 9

• over 70 to bring a friend on public transpor t

AGRICULTURE

• O ver € 2 billion to the depar tment of agriculture nex t year.

• €13 million for new tillage scheme

• €10 million for animal health measures

• € 8 million to enhance pay ment rates of national beef welfare scheme

BUSINESS

• From Jan 1, the national minimum wage will increase by € 0.80 per hour to €13.50 per hour.

• €1,000 to €1,500 for an employer to provide limited

• Raising VAT registration thresholds that apply for the supply of goods and ser vices, to € 85,000 and € 42,500 respe c tively

• A n ex tension of the Bank Lev y for a f ur ther year, with a target yield of € 200m.

• E x tension to 2026 of the Employ ment Investment Incentive, the Star t-Up Relief for Entrepreneurs and the Star t-Up C apital Incentive.

• CGT Retirement Relief retaining the increased upper age limit and intro of a claw ba ck period of 12 yrs for relief availa ble for disposal s over €10m,

• the R&D tax credit, from € 50,000 to € 75,000

JUSTICE & DEFENCE

• € 3.9 billion alloc ated to Justice se c tor including provision for re cr uitment of f ur ther 1,000 gardaí

• Inter national prote c tion processing s ystem to be

• personnel in 2025

ALCOHOL, CIGARE T TES, VAPING

• €1 increase in excise dut y on pa cket of 20, bringing cost to €18 05 from midnight

• Tax to be introduced from mid-2025 of 50 cent per ml of eliquid, bringing t y pic al price of disposa ble device to € 9.23

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UNIVERSAL SOCIAL CHARGE

0% on total earnings <€13,000 per annum

0.5% on €0 to €12,012 per annum

2% on €12,013 to €27,382 per annum