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Tánaiste Michael Martin. Norma Burke
budget 2024

Next budget to see increase in State pension, Micheál Martin says

There is no precise figure being given for the increase as of yet.

Tánaiste Micheál Martin has said that the State pension will increase in next month’s Budget, but has not given any exact figures. 

Speaking from Jordan, Martin said that he is aware that pensioners are struggling. 

“We did [have]  a significant package last year for pensioners. 

“So yes, we will be looking at increasing the pension. But again, I think it’s important that we look after pensioners and our senior citizens. Michael McGrath will deliver this budget. He’s putting a lot of work into it, and it will cover a lot of areas,” he said. 

Martin added that there is no “precise figure” yet on how much the pension will be increased.  


The Fiscal Council of Ireland has said that “hard choices will have to be made” when it comes to this year’s budget, and that a large package would be a “mistake”. 

 It has warned that the Government should follow the National Spending Rule, which it says will be breached every year till 2026 under the proposed plans. 

They said that Ireland has shown in the past that increasing spending and cutting taxes when the economy is strong already can lead to the country struggling. 

However, at the same time, the Government is facing pressure from the opposition and charities to help people to cope with the surge in inflation, interest rates, electricity costs, and fuel costs. 

In this year’s budget, ministers are planning a 6.1% increase in core spending, and have justified the move in the context of continued high inflation levels.

Taoiseach Leo Varadkar yesterday defended the Government’s approach to the budget following the critical assessment and rejected the assertion that ministers were set to repeat past mistakes.

Last year the pension increased by €12 per week. At the time, charities had advocated for a hike of at least €20. 

- Reporting from Stephen McDermott. 

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