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Budget 2024 will see funding announced for the first Garda Reserve recruitment campaign since 2017. Alamy Stock Photo

Here's how Budget Day will play out and what we know so far

A further 25% childcare cost reductions, €1,000 student fee cuts and electricity credits all to be announced today.

FINANCE MINISTER MICHAEL McGrath will be in the hot seat today, taking to his feet in the Dail at 1pm to announce Budget 2024. 

McGrath is the first Fianna Fail member to hold the office since Brian Lenihan and the dark days of austerity which led to the downfall of the party after the crash.

This time around, McGrath says he will be telling a different story than his predecessor.

The total Budget 2024 package is about €6.4 billion, including taxation measures worth €1.1 billion.

Here’s what do we know so far:

Cost-of-living measures

  • Electricity credits amounting to €450
  • Double child benefit payment
  • Double fuel allowance payment
  • Delay in October’s excise restoration on diesel and petrol

Tax measures 

  • Cut to lowest 2% of USC
  • Increase in the entry point to the higher rate of income tax to around €42,000
  • ‘Slight’ PRSI increase

Social welfare

  • Roll out of the new pay-related-benefit scheme to ensure those that lose their jobs get higher social welfare payments that are linked to their previous salaries (as reported by The Journal on Saturday)
  • €12 social welfare payment increases, such as the pension
  • Social welfare recipients will get the usual Christmas bonus, followed by an additional payment in January. This will amount to an extra €140 (double) for Child Benefit, €100 for the Qualified Child Bonus, €200 for the Living Alone Allowance, €400 for the Carers Support Grant, €400 for the Disability Support Grant, €400 for the Working Family Payment, and €300 for the Fuel Allowance.

Justice

  • Gardaí trainee allowance will also see a boost, rising from €185 per week to €305 per week, in a bid to recruit and retain gardaí in the force. Change will kick in from today.  While the increased payments will begin on January 1, those in training between Budget day and the new year will receive a backdated lump payment for this period in January.
  • Increased budget to hit target of 800 to 1,000 new recruits next year.
  • A 25% increase – up from €105 million to €131 million – in Garda overtime to support high visibility policing to tackle anti-social behaviour in towns and cities
  • €4m provided for Garda Wellbeing Initiatives and medical costs to support the men and women serving in An Garda Síochána
  • A new national centre of excellence for the expanded Garda Dog Unit in Dublin, with the expansion to all Garda regions on a phased basis involving 50 handlers with access to 100 dogs
  • Providing funding for CCTV, bodycams, body armour, mountain bikes and public order equipment·        
  • Funding to provide for the first Garda Reserve recruitment campaign since 2017 – this will open early next year
  • €12 million increase in funding to tackle Domestic, Sexual and Gender Based Violence and establish a new agency next year·        
  • €9m to increase fees for criminal legal aid by 10% in 2024 to make progress in restoring criminal legal aid fees.
  • Following the Budget, more work will be undertaken with the legal profession on further strengthening criminal legal aid.

Housing

  • Rent credit increased to €750 
  • Landlord tax break described as ‘modest’ – could see tax relief of up to 20% off a proportion of their rental income, but this measure would be linked to landlord staying in the market for a certain period.
  • Mortgage interest relief will also be announced for homeowners who have been badly hit by rate hikes. Around 160,000 mortgage holders will benefit from time limited relief worth €1,250

Business

  • New Increased Cost of Business Scheme (ICOB) will be awarded based on a percentage of commercial rates a SME paid in 2023
  • Minimum wage to increase by €1.40 to €12.70
  • No increase in tax-free allowance from employers 

Education

  • Free school books up to Junior cycle (as reported by The Journal on Sunday)
  • Student grants to increase by €300
  • Post-graduate students will be eligible for grant support of up to €2,300
  • Families with an income of less than €100,000 will have college fees for undergraduate students halved to €1,500 this year (this is on top of a €500 cut announced last years budget for this college year)
  • All other families will see college fees for full time undergraduate students cut by €1,000. This is part of a wider package of reforms and supports to reduce the cost of education, due to be announced on Thursday.

Childcare 

  • Further 25% reduction in childcare cost reduction was agreed late yesterday after tense talks over the weekend between the Department of Finance and Children’s Minister Roderic O’Gorman. Discussions were ongoing late last night on the details, however it is understood the measure will be introduced later in 2024. 

Health

  • Budget talks were described as ‘challenging’ when it came to the health budget this year and it is understood that due to the significant overspend there is little to be announced today in new measures. The budget allocation for health was finalised and the allocation is focused on dealing with continued high inflation and increased patient demand.
  • Sources state that due to many more patients presenting to Emergency Departments and additions to waiting lists this year, much of the increased budget in health will be used to maintain existing services. 

Other measures 

  • 50c increase on cigarettes
  • New tax on vaping to be announced 
  • No further public transport fare reductions

The finance minister has said that following today’s budget, people’s living standard will improve – however, he has sounded warnings about the need to prepare for clouds on the horizon. 

Transport Minister Eamon Ryan confirmed yesterday that an increase in PRSI was also being discussed in the afternoon. 

“We need some tax-raising measures. We have to careful to get the balance right. Our economy is at full tilt. We have to protect people from the cost of living impacts but at same time we have to make sure that we maintain sustainable public finances,” he told reporters. 

Tanaiste Micheal Martin has said the Budget will provide support to deal with the pressures they are under with the cost-of-living, while specifically mentioning the that it should help young people aged in their 20s and 30s. 

He said the government will protect this age cohort’s future entitlements and secure their futures. 

Meanwhile, Public Expenditure Minister Paschal Donohoe said “we really never know what is around the corner”, stating that the government is attempting to get the “balance right” in a way that will keep Ireland economically safe. 

So, how will the day play out? 

McGrath will begin his speech at 1pm, followed by Donohoe at 1.45pm. The speeches are expected to conclude at 2.30pm. 

Sinn Fein will get an hour to reply, followed by Labour, the Social Democrats, People-Before Profit, and the three independent groups, with each party or group getting 45 minutes to speak. 

All speeches are due to finish at 8pm and any Dail debate on any overnight financial resolutions will take place from between 8.30pm to midnight. 

The Journal will bring you all the latest from Budget 2024 with a liveblog running throughout the day. 

Our newsroom team and the politics team based in Leinster House will bring you all the latest as it happens, with breakdowns of what Budget 2024 will mean for you. 

Stay with The Journal throughout the day and follow us @thejournal_ie and also on Facebook

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45 Comments
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    Mute Padraic Lawless
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    Jun 10th 2012, 7:46 PM

    If people kept to the correct lane there would be less accidents!

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    Mute Stadler Waldorf
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    Jun 10th 2012, 8:15 PM

    And if people kept to correct grammar there would be fewer mistakes.

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    Mute Sheila Byrne
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    Jun 10th 2012, 10:05 PM

    If people kept to the speed, and gave a proper distance when pulling in in front of vehicle after passing there would be less accidents! Knowing that even when the speed limited is 100km in heavy rain slow bloody down to at least 70/80km! Ediots!

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    Mute Sara cahill
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    Jun 10th 2012, 10:17 PM

    What was wrong with that grammar?!

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    Mute Aoife O'C
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    Jun 11th 2012, 8:45 AM

    If you’re being pedantic about it- and the commenter above undoubtedly was- “less accidents” should have been “fewer accidents.”

    This is because of a rule that says “less” is used for non-count nouns (words like sand, for example, where you can’t talk about “a sand, two sands” etc.) and “fewer” is used for count nouns (“an accident, two accidents,” etc.)

    While “less” is used in this context in speech and in casual writing to a huge extent (indicating that the rule is dying) it is technically incorrect in formal language. The fact that this rule is becoming less and less relevant to actual language use is nicely illustrated by the fact that you, a native speaker of English, were completely unaware of it.

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    Mute Padraic Lawless
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    Jun 11th 2012, 1:22 PM

    Making cheap digs at someones grammar while hiding behind a pseudonym. Good man. Back in your box now.

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    Mute Mark Larson
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    Jun 10th 2012, 7:58 PM

    People drive so fast on that motorway, €3 each way is a rip-off. That road is paid for 10 times over.

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    Mute Gabriel McManus
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    Jun 10th 2012, 9:09 PM

    What happens when public services are privatised, the new owners milk you for every penny, after lots of wonderful promises. So people are paying taxes but now they’re also paying separately for all the stuff their taxes used to pay for and all the money you pay in taxes is going towards grants for multinationals and tax breaks for the very wealthy, senior executive salaries, vanity building projects, bail bailouts etc, its a total scam, people need to know it is.

    107
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    Mute Johnny Thunder
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    Jun 10th 2012, 9:11 PM

    Mark,
    Are you one of the self-appointed speed guardians who stick religiously to the overtaking lane to stop others from driving at their chosen speed ?

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    Mute Sean Mc Avinue
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    Jun 10th 2012, 9:53 PM

    What is too fast? Do you mean to suit road conditions, or over the speed limit? The RSA have increased the speed limit from 70mph to almost 75mph on certain motorways.

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    Mute Sheila Byrne
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    Jun 10th 2012, 10:08 PM

    @Mark Larson,

    It was only EUR2 when the tolls were there and people could pay there and then and not bloody forget 2 days lated and end up having to pay EUR12. That’s for someone not using it all the time and may just use it 2/3 times a month. Bring back the booths!

    31
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    Mute Mark Larson
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    Jun 10th 2012, 10:10 PM

    I don’t drive as i live in central London, ive seen how some drive on the M50 and way over the speed limit, and in and out of lanes, some crazy driving. You could never drive over the limit on the M25 in London as it is covered with speed cameras.

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    Mute Paul Kiely
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    Jun 11th 2012, 12:19 AM

    10 times more like 50

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    Mute Declan O Connor
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    Jun 11th 2012, 3:59 AM

    your man would repair the damage himself for a fraction of price. rip ofs

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    Mute Gavin Tobin
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    Jun 10th 2012, 8:30 PM

    Anyone else notice that women don’t use the left hand lane on 3 lane roads? Unless exiting of course…

    First noticed this on the day of the mini marathon when I came across what I though was a funeral procession on the M50. Huge line of cars in only the middle lane driving too slow and too close together. Alas it was only hoards of marathonetts on their way to the race (walk).

    All afraid to use mon-sat bus lanes on a Sunday too…

    Keep an eye out folks I’m not making this up…

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    Mute Stephen Small
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    Jun 10th 2012, 9:08 PM

    I don’t think it just women, or people of a certain generation that are the problem.

    I think the fact that learner drivers are not taught how to drive on a dual carriageway, never mind a three lane motorway is the problem.

    Lane indiscipline is rife in Ireland. And people who call the outside lane the “fast lane” really get my goat up.

    129
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    Mute Gavin Tobin
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    Jun 10th 2012, 9:17 PM

    Don’t get me going about road hogging silver surfers in Toyota Avensis’….

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    Mute Sheila Byrne
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    Jun 10th 2012, 10:13 PM

    It not just silly women it’s very much men also! Friday afternoon, in pouring rain most ediots were driving 100km +!!! some like myself slightly slower, because there was no way of seeing more than a car length ahead of me. There was a male driver, pulling a caravan, in the middle lane, refused to pull into inside lane. When I actually passed him to avoid the spray he was throwing up, I looked across, he was drinking coffee/tea from a flask mug and eating a huge cookie!

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    Mute Dara Cromwell
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    Jun 10th 2012, 10:29 PM

    I disagree. There is a shit lot of drivers not only women that drive in the middle of 3 lanes. Mainly car drivers. Sickens me. Been a truck driver I end up undertaking cars not before I give a warning flash an blow the shite out of the horn….

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    Mute Nuffsaid Thatsall
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    Jun 11th 2012, 1:28 AM

    @ Sheila – I’m not trying to be a grammar / spelling Nazi here, but as you’ve spelt ‘idiots’ as ‘ediots’ twice now, you’ve got me curious…is it slang for something else or what!?!

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    Mute Sheila Byrne
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    Jun 11th 2012, 8:19 AM

    @ Nuffsaid Thatsall

    I do beg your pardon! I try my best to read over my comment a couple of times before posting, I am dyslexic. I wish journal.ie would allow us to re-write our comments if needs be.

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    Mute Michael J Hartnett
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    Jun 10th 2012, 8:47 PM

    Are the operators of the M50 insured if the road causes damage to a persons car. Can we get this clarified.

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    Mute john mack
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    Jun 10th 2012, 9:01 PM

    add delays to that, not having ramps gritted during snow and ice. or re-embursement of tolls when lucan exit was closed due to the queen. I hate using M50, if I have to be some place that’s important I’ll use other roads rather than risk tailbacks.

    57
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    Mute Niall Mulligan
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    Jun 10th 2012, 9:50 PM

    Eh, what’s the problem. If you cause damage and are at fault then you pay the bill through your insurance policy. Accidental damage to a road barrier is the same as an accidental rear ending.

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    Mute Sean Mc Avinue
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    Jun 10th 2012, 11:19 PM

    cjmalone1969. It’s a long time since I took a bus but do CIE allow scaffolding planks and 8X4 sheets of ply, with a large steel box of tools? Ah I think I’ll stick to the van, but thanks anyway.

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    Mute Stephen Small
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    Jun 10th 2012, 11:48 PM

    Don’t feed the troll!!! ; )

    29
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    Mute Eamonn Nestor
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    Jun 10th 2012, 11:48 PM

    Yeah, I hate when the bus brakes and the top of the acrow comes flying out…

    14
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    Mute Stephen Small
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    Jun 10th 2012, 10:20 PM

    Personally, I think it’s reasonable enough. If you do cause damage as a result of negligent driving, you should be liable for the cost of damage caused.

    But as other posters have mentioned, the service providers have a duty of care to the users of the M50 as well, which I personally think is lacking a lot of the time. And this is most evident come the winter months.

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    Mute Dara Cromwell
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    Jun 10th 2012, 10:32 PM

    I recon the repair companies have a lottery on this. They could put any amount through an they would pay up. I’d love to know how much a foot of barrier is….

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    Mute Krystian Brzezowski
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    Jun 10th 2012, 9:56 PM

    This totally understandable. I mean if you are driving carelessly than fork out. Well unless you will die than there is the problem. But I suppose not your anymore.

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    Mute Niall Mulligan
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    Jun 10th 2012, 9:57 PM

    If your fatally injured and liable your insurance still pays out for your liability. It’s pretty standard and nothing new to be honest.

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    Mute Conor Flood
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    Jun 10th 2012, 11:52 PM

    it sucks 3k a year from me. H.A.T.E……………………

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    Mute Damocles
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    Jun 11th 2012, 8:51 AM

    The RSA are finally doing ads for people on motorways to tell them how to drive.

    Strange that this sort of thing isn’t covered when people were learning how to drive.

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    Mute Margaret Mc Avinue
    Favourite Margaret Mc Avinue
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    Jun 11th 2012, 12:21 PM

    Does that mean if your car is damaged due to potholes etc you can claim from them

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    Mute cjmalone1969
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    Jun 10th 2012, 10:52 PM

    Why don’t all you sad moaner drivers sell your car and take to walking, biking or public transport and then have a moan about that :)

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    Mute dubsy
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    Jun 11th 2012, 11:00 AM

    I’d like to see you walking or cycling on the M50…. As for public transport: I haven’t seen any bus or LUAS stop on the M50 so far….

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    Mute Brian Tracy
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    Jun 11th 2012, 8:43 AM

    18,000 for a barrier?More likely 200 max & as for the labour involved this highway maintanence shower pay there staff by the week not the job.I could pick up a new car for 18,000 & a hell of a lot more work goes into that.

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    Mute Caroline Locke
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    Jun 28th 2012, 11:28 PM

    Scandalous.

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