Exciting news has just been announced by Minister for Finance Jack Chambers and Minister for Public Expenditure Paschal Donohoe – the Budget for 2025 is here! Packed with measures aimed at securing a bright future for the country, this Budget is set to make a real impact on your life.
Social Welfare
With a massive social protection package worth nearly €2bn, social welfare recipients can expect double payments, increased allowances, and more support across the board.
To address the rising cost of living, a €2.2bn package has been introduced, including energy credits, VAT rate extensions, and additional payments for fuel and living alone allowances.
Housing and renters
Investments in housing include increased rent tax credits, funding for the Land Development Agency, and extensions to the Help to Buy scheme to ensure stability for homebuyers and renters.
Children
For families, child benefits are set to double, additional lump sum payments will be given, and the National Childcare Scheme funding will see a significant increase.
Education
Education initiatives include the extension of the free schoolbooks program, fee reductions, and additional support for students across all levels of education.
Income tax
Changes to income tax rates see reductions in USC, increases in tax credits, and adjustments to threshold rates to benefit a wider range of individuals.
Climate
To address climate concerns, carbon tax increases and other environmental measures have been introduced to promote a more sustainable future.
Health
Funding for health services will see the addition of new beds, increased access to treatments, and expansion of the health workforce to improve service capacity.
Justice and defence
Additional staffing for the Irish Prison Service, recruitment for gardaí, and investments in the Defence Forces are planned to enhance security and justice facilities.
With these highlights, Budget 2025 promises a brighter and more secure future for Ireland across various sectors. Stay tuned for more updates on all the latest budget developments on RTÉ!