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Budget 2024: Here are the main points you need to know

The Government has confirmed a range of measures.

BUDGET 2024, WITH measures totalling around €6.5 billion, has been announced in the Dáil. 

Minister for Finance Michael McGrath and Minister for Public Expenditure Paschal Donohoe have finished their speeches, with reaction to the newly announced measures beginning to roll in. 

You can find everything you need to know about Budget 2024 below:

  • Income Tax Package: The standard rate band will increase by €2,000 to €42,000 
  • The 4.5% rate of USC will be reduced to 4%
  • The entry threshold to the USC rate will increase from €22,920 to €25,760. A single person earning €46,000 in 2024 will see an increase of €2,000 in their net income as a result of cumulative income tax changes and USC changes since 2021, Minister McGrath said
  • A tax credit of €750 for tenants who are paying rent in respect of their principal private residence. Parents who pay for their student children to have tenancies in “rent a room” accommodation will also be able to claim the Rent Tax Credit.
  • Personal Tax Credit, Employee Credit and Earned Income Credit will increase by €100 each
  • The Home Carer Credit and the Single Person Child Carer Credit will increase by €100 each
  • An increase of €12 to those in receipt of weekly Social Protection payments
  • A once-off double Child Benefit payment to be paid before Christmas, while Child Benefit will be extended to 18-year-olds in full-time education
  • The National Minimum Wage will increase by €1.40 per hour to €12.70 per hour from 1 January 2024
  • Three domestic universal €150 energy credits totalling €450 between the end of this year and April 2024
  • Excise on a pack of 20 cigarettes will increase by 75 cent from midnight, with a pro rata increase on other tobacco products
  • A tax on vaping products will be introduced next year in Budget 2025
  • A one-year Mortgage Interest Tax relief, capped at €1,250 per property, will be introduced for homeowners with an outstanding mortgage balance on their primary dwelling of between €80,000 and €500,000 as of 31 December 2022
  • A temporary tax relief for landlords will be introduced 
  • An extension of the 9% VAT rate on the supply of gas and electricity for a further 12 months
  • The registration threshold for businesses paying VAT will increase from €37,500 for services and €75,000 for goods to €40,000 for services and €80,000 for goods, respectively
  • A €300 lump sum payment for Fuel Allowance recipients to be paid before Christmas
  • An additional €200 for Living Alone Allowance recipients to be paid this year
  • A once-off double Foster Care allowance to be paid this year
  • The Qualified Child Increase will increase by €4 to €46 per week for under 12-year-olds, and to €54 per week for over 12-year-olds
  • The Hot School Meals Programme will be extended to an additional 900 primary schools in April 2024
  • The Free School Books Scheme will be extended to all junior cycle pupils in post-primary schools within the Free Education Scheme from September 2024
  • The fee reduction on school transport services was extended for a further year
  • The fee waiver for students sitting state exams was extended for a further year
  • Increases in excise to petrol and diesel are to be postponed until next year
  • The Parent’s Benefit will be extended to nine weeks from August 2024
  • The monthly Domiciliary Care Allowance will increase by €10 to €340 per month
  • A once-off double week Cost of Living Support payment will be paid to all qualifying Social Protection recipients in January
  • A €400 Working Family Payment will be paid later this year
  • A once-off payment of €400 will be paid to those in receipt of the Carers Support Grant, Disability AllowanceBlind Pension, Invalidity Pension and the Domiciliary Care Allowance before Christmas
  • The Christmas Bonus for those in receipt of Social Welfare payments will be paid before Christmas
  • An average of 25% reduction in weekly childcare fees from September 2024 onwards
  • The Young Adult Leap Card will be extended to cover adults aged 19-25
  • A once-off reduction of the student contribution fee by €1,000 for free fees students will be introduced
  • A once-off reduction of 33% in the contribution fee for apprentices in higher education
  • A €1,000 increase to the Postgraduate Fee Contribution Grant from €4,000 to €5,000
  • Funding for recruitment of up to 1,000 Gardaí and up to 250 Garda civilian staff next year
  • Training allowance for Garda recruits will increase from €184 to €305
  • VRT relief for battery electric vehicles will be extended to the end of December 2025

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76 Comments
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    Mute Stephen Flood
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    Oct 10th 2023, 3:31 PM

    Nothing again for the ordinary workers , the welfare again wins again

    939
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    Mute Edward Vetjam
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    Oct 10th 2023, 3:44 PM

    @Stephen Flood: UCS was changed. Everyone gets some ….

    203
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    Mute Colm de Cleir
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    Oct 10th 2023, 4:08 PM

    @Stephen Flood: Minimum wage increase, USC reduction, income tax threshold increase, USC threshold increase, tax credit increase…

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    Mute Paul Scully
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    Oct 10th 2023, 4:23 PM

    @Stephen Flood: There is people who can’t work they need the help and support from the Government

    78
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    Mute Barry Sorensen
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    Oct 10th 2023, 4:25 PM

    @Stephen Flood: That’s just not true. Did you even read the article? Or were you waiting with your prescribed comment before it even started?

    137
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    Mute sam o brien
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    Oct 10th 2023, 4:34 PM

    @Stephen Flood: in one hand,out the other for the workers.

    55
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    Mute
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    Oct 10th 2023, 4:50 PM

    @Edward Vetjam: I get a whole €10.60 a week. What should I spend it on?

    39
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    Mute John Dough
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    Oct 10th 2023, 4:52 PM

    @Stephen Flood: across 2 budgets, the low paid worker(<€36000) got €10.50 per week combined. Same 2 budgets, jobseekers got €22 per week. Great little country.

    125
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    Mute Stu Doherty
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    Oct 10th 2023, 4:56 PM

    @Paul Scully: indeed but for every one of those there are five milking the system and laughing at the taxpayer

    93
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    Mute no no no
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    Oct 10th 2023, 5:10 PM

    @John Dough: who’s fault is it they are low paid and where is 36k = low? 20 years ago this would have been a dream income

    16
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    Mute John Dough
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    Oct 10th 2023, 5:24 PM

    @no no no: ah yes, we should all be millionaires. Stupid me.

    25
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    Mute Regular John
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    Oct 10th 2023, 5:56 PM

    @Stu Doherty:
    5 out of 6 on SW are milking the system and laughing at the tax payer? Absolute nonsense.

    55
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    Mute Ken Jordan
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    Oct 10th 2023, 6:05 PM

    @Paul Scully: a lot of people also don’t want to work! Try recruiting Retail staff and you’ll see what I mean.

    71
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    Mute D M C
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    Oct 10th 2023, 6:45 PM

    @Ken Jordan: No a lot of companies don’t want to pay is the problem.

    If retail staff were offered €20 per hour you still think they would find it hard to find staff? The answer is NO.

    Potential Employee : How much do you pay?

    Employer : The absolute bare minimum i am legally able to pay you, if i pay you any less it would be considered a criminal offense.

    Potential Employee : Well, what hours do you guarantee me?

    Employer : Zero, Zero Hour Contract and you can’t have another job because you must be available to come into work any time i need you too.

    Potenial Employee : Ill pass on that.

    Employee : Nobody wants to work!!!

    129
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    Mute another one? what's going on is the semi state sec
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    Oct 10th 2023, 8:23 PM

    @no no no: I think you mean 40+ years ago it was a dream income

    12
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    Mute Michael Costello
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    Oct 10th 2023, 9:31 PM

    @Stephen Flood: 2 billion euto to build 9300 social house. That puts the cost of these houses at €215,000 each.. I am pre approved at the moment for €235,000 mortgage but can’t find anything in the market for this amount.. Can I please put my name down now for 1 of these 9300 house @ €215,000 each

    24
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    Mute another one? what's going on is the semi state sec
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    Oct 10th 2023, 9:52 PM

    @Michael Costello: I would assume it’s on state land. So they just have to pay the build cost…… When you buy a house you pay for the land and the house.

    7
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    Mute Paul Gorry
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    Oct 10th 2023, 10:25 PM

    10 Johnplayer blue and a packet of tayto..

    8
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    Mute Katie Beckett
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    Oct 10th 2023, 3:50 PM

    Ahhh don’t you love the smell of negativity from the journal comment section before you even open the article! I hear North Korea or Afghanistan are accepting immigrants if ye want to move there? Thank you again to the government for trying your best. Unfortunately they can’t solve everything. I for one consider myself extremely lucky to live in a country who can afford to have a budget and get something extra each year even if its just a small amount

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    Oct 10th 2023, 3:53 PM

    @Katie Beckett: Jesus talk about delusional. If I take 10 euro out of your pocket and then give you 1 euro back, you’d be grateful would you?

    312
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    Mute Helen Murphy
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    Oct 10th 2023, 4:30 PM

    @Katie Beckett: they promised the abolition of the USC in 2016. In this budget, they reduced it for the first time in five years, by a paltry 0.5%. You say they can’t solve everything, but the fact is they’ve solved nothing and created even more problems. FFG are responsible for the disaster of a children’s hospital, record levels of homelessness, rip off energy companies, throwing agriculture under the EU bus, hospital waiting lists, leaking documents, planning irregularities, increased crime rates etc. You are either on the payroll or delusional to see them as anything other than useless.

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    Mute Pj Browne
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    Oct 10th 2023, 5:07 PM

    @Katie Beckett: but you have gotten nothing extra when you factor in the cost of living has risen in the last 12 months

    68
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    Mute Katie Beckett
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    Oct 10th 2023, 6:23 PM

    @Helen Murphy: then vote SF and live your dream!

    15
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    Mute Helen Murphy
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    Oct 10th 2023, 6:44 PM

    @Katie Beckett: Would you ever cop yourself on! The Sinn Fein paranoia is off the charts with the FFG shills. The fact that you automatically throw that as a retort to someone who criticises the pathetic performance of our government shows your delusion is probably incurable. I’m one of the many disenchanted voters who wishes we had a decent option for the next election.

    73
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    Mute nck
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    Oct 10th 2023, 7:10 PM

    @Katie Beckett: of course they can’t solve everything. They could try solve all the problems they cause though!

    33
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    Mute Emma McDonald
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    Oct 10th 2023, 10:13 PM

    @Katie Beckett: I also feel grateful to be born here however the government will pay Electric Ireland 540 million over the next few months & their 1.2 million customers will still have high electricity bills this time next year, embarrassing really.

    16
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    Mute Derek Poutch
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    Oct 10th 2023, 3:31 PM

    Obviously trying to buy the next election. It won’t work this time as people have kopped on to their spin and down right lies.

    303
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    Mute Billy Carroll
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    Oct 10th 2023, 3:52 PM

    @Derek Poutch: Jaysus, do you think the Shinnnners will do any better

    233
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    Mute JT Quinn
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    Oct 10th 2023, 4:05 PM

    @Billy Carroll: Realistically, I’m willing to see at this stage.

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    Mute halfman halftea
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    Oct 10th 2023, 4:34 PM

    @JT Quinn: That’s the problem, there are plenty who are willing to see and the country will be in tatters by the time the SF experiment has run it’s course.

    74
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    Mute Pj Browne
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    Oct 10th 2023, 5:05 PM

    @Billy Carroll: why do you think they won’t

    23
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    Mute harry trafford
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    Oct 10th 2023, 6:07 PM

    @halfman halftea: Oh, imagine SF turn our amazingly well run country into tatters. I’ve never earned as much in my working career as I do now and have less disposal income than when I was a 21 year old apprentice, renting with a newborn baby….

    58
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    Mute Mick Duvanny
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    Oct 10th 2023, 7:04 PM

    @harry trafford: I’m afraid nó party will solve that one. Responsibilities equal costs

    16
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    Mute nck
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    Oct 10th 2023, 7:13 PM

    @Derek Poutch: No. They haven’t. Guaranteed people will still vote unanimously for the imbecile in whatever locality they live in. Regardless what way you vote: you’re voting for the liar.

    11
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    Mute Squarepeg 01
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    Oct 10th 2023, 7:38 PM

    @JT Quinn: as Thomas Sowell says, there are no solutions, only trade-offs. Here’s a realistic scenario where SF could solve the housing crisis in a flash, but at the expense of the economy – they could double the corporation tax (and the French would love them for it). There would be such a flight of multinationals, Ireland would end up with net emigration, thereby reducing demand for housing. Simple. Be careful what you wish for.

    21
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    Mute Marie B
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    Oct 10th 2023, 8:18 PM

    @Derek Poutch: * copped

    1
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    Mute Breda Appleby
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    Oct 10th 2023, 9:45 PM

    @Derek Poutch: I agree. Im an old age pensioner not important in todays world and will be getting the insulting amount of 12 euro. Pre-election, they better not be stupid enough to come near my hall door☹

    14
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    Mute William Rymer
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    Oct 10th 2023, 3:42 PM

    Scrolling down to see if they are 0lanning to fix the health service.

    … Nope

    121
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    Mute Justin Gillespie
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    Oct 10th 2023, 5:07 PM

    @William Rymer: Not something you will ever see in a budget.

    35
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    Mute Bren
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    Oct 10th 2023, 3:42 PM

    So when will the USC reduction cut in for the workers ? Hope it’s not in 24 as we need it now always the welfare heads get all asap but the workers last a shame hall of a budget again shafting the tax payer

    106
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    Mute Edward Vetjam
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    Oct 10th 2023, 3:45 PM

    @Bren: being the 2024 budget that is the only outcome

    45
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    Mute halfman halftea
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    Oct 10th 2023, 4:37 PM

    @Edward Vetjam: Except where there are increases of course, they come in straight away.

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    Mute Brian O'Grady
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    Oct 10th 2023, 5:30 PM

    @Bren: so carers, pensioners and the disabled are welfare heads.

    24
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    Mute Anna Carr (Morrigan_Dubh)
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    Oct 10th 2023, 4:24 PM

    Certainly a help. Glad about the energy bills payments again. Could’ve been a lot worse.

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    Mute Mike Howard
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    Oct 10th 2023, 3:34 PM

    Well that’s certainly in the right direction ! Well done all

    83
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    Mute harry trafford
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    Oct 10th 2023, 6:01 PM

    €18 a week between me and my wife. Hopefully I can save it for a mortage deposit.

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    Mute sam o brien
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    Oct 10th 2023, 4:37 PM

    Great news for td/landlords corrupt Eire.

    82
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    Mute Brian Meagher
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    Oct 10th 2023, 6:48 PM

    Another desperately poor budget for tax payers. Notional increases in tax bands and reduction in USC, which will be completely consumed by inflation. For a government that was elected to reduce taxes, they have been an abysmal failure. What they ascribe to prudence, is more accurately described as fantastically wasteful and rapacious.

    63
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    Mute nck
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    Oct 10th 2023, 7:23 PM

    @Brian Meagher: there’s no such thing as a good budget for tax payers. The electorate’s first mistake was electing someone. Their second was expecting that someone to do anything about taxation.

    19
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    Mute Brian Meagher
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    Oct 11th 2023, 10:14 AM

    @Mary Looners: And someone earning 40k, will receive €892.

    The tax bands have increased by 5%, but core inflation is running at 7-8%.

    In the UK, they are up in arms because they will 3 years of fiscal drag (a stealth tax increase), whereby incomes rise but rates do not match the increase. Trapping an ever greater number of workers, earning very modest sums, in the highest tax bracket.

    In Ireland we have had 8 years of fiscal drag. The 40% tax bracket would not kick in until people earn €57k a year, if the government had kept rates on track with the average industrial wage, or €48k, if it followed the median wage.

    You posters on this forum who vilify the government for everything under the sun. Its hysterically overthetop. Ireland is not the worst country in the EU, our homelessness, whilst still too high are much lower than other EU countries. Our housing crisis is bad, but again there is similar scale of issues all across Europe.

    Where they have fallen down, is they have spent like bandits, with little to gain for it. And they have taxed rapaciously to fund it. The state is not the pancea to all our ills, and often time is the most expensive and inefficient way to address problems.

    6
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    Mute Ciaran Goggins
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    Oct 10th 2023, 4:55 PM

    A person earning 26000 with get 10 a year while a person earning 41000 will determine 200 a year

    33
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    Mute another one? what's going on is the semi state sec
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    Oct 10th 2023, 8:31 PM

    @Mary Looners: 350€ is not even 1% of a 41k salary. It’s .85%….. inflation from January 2022 to August this year is 13.5%……. not much help from the government there….. shocking really! Someone on the dole gets more, 624€

    32
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    Mute june donnelly
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    Oct 10th 2023, 6:45 PM

    Why are we even surprised .every year we hear the working people will get something never get anything !! Banana republic

    34
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    Mute John O'sullivan
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    Oct 10th 2023, 8:28 PM

    crumbs from the table,the average man/woman on the street is down thousands in real terms the mortgage gone up 5 grand a year,motoring costs gone up 1500 a year heating and electricity gone up another 1500,grocery shopping gone up probably 50 a week just another 2500 grand right there…

    23
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    Mute Holly K
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    Oct 10th 2023, 10:50 PM

    Full employment. Be brave cut the dole. Dont give double week bonus. Give the bonus to people who work. Full employment remember… Welfare state does not make work worthwhile. People who work dont get their just rewards. Workers pay for the double week bonus for not working. A disgrace. This elephant in the room needs to be addressed…

    29
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    Mute Ian
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    Oct 11th 2023, 12:10 AM

    @Holly K: We are at full employment, wtf are you waffling about?

    6
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    Mute Brendan shanahan
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    Oct 10th 2023, 8:55 PM

    Older people have again been ignored and Inheritance Tax remains the same. Older people I guess are not a priority!

    22
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    Mute Jane Alford
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    Oct 10th 2023, 9:57 PM

    @Mary Looners: Says nothing about any of that in the article. I can only understand pensioners get a big fat zero.

    3
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    Mute Kevin O'Connell
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    Oct 10th 2023, 7:02 PM

    Increses in fuel due to carbon tax from tonight of between 2 cent and 3 cent pl

    16
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    Mute Katie Beckett
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    Oct 10th 2023, 6:27 PM

    And you know what I find really interesting (yet not at all surprising) is when women comment anything positive on articles they get vilified mostly by men yet men could write the same response as men and not a whisper. Same across all social media. The older I get the more I think lesbians are the smart ones

    15
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    Mute nck
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    Oct 10th 2023, 7:21 PM

    @Katie Beckett: you posted crap, and got a crap response. If your name were Keith Beckett you’d have been vilified just as badly. And let’s not forget: women can be far more scathing than men where words are concerned. But don’t let me stop you making important life decisions based on your typical response on social media…

    40
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    Mute Squarepeg 01
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    Oct 10th 2023, 7:50 PM

    @Katie Beckett: If you can’t take the flak, don’t comment. I’m pro-Ukraine, pro-Israel. You think I get an easy time from some of the people on these threads (on the few occasions we’re allowed to comment anymore)? Nope. You have to fight your corner. Pro tip: use the comments section to help bring clarity to your own thinking, and if you get schooled, treat it as a learning experience.

    20
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    Mute Bryan McDermott
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    Oct 10th 2023, 8:54 PM

    I’m a single man, 0 kids qualified tradesman renting from 20 years of age to this present day. It’s real life monopoly

    11
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    Mute John
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    Oct 10th 2023, 9:15 PM

    As was stated in the Dáil today the goverment have only papered over the cracks and its going to come crumbling down again.
    There is no long term fixes here. One of payments will not last long.
    A lot of people diss SF but those guys are living in the past. SF with a another are the further like it or not FFFG are finished in government facts are facts.
    This budget will not buy them the votes they need.

    11
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    Mute Dissasociated Follower
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    Oct 10th 2023, 7:33 PM

    Shame on Israel and their allies for what is happening right now. Telling Palestinians to flee but shutting borders keeping them hemmed in.

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    Mute Squarepeg 01
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    Oct 10th 2023, 7:53 PM

    @Dissasociated Follower: as I understand it, the Israelis are telling Gazans where to go to avoid the IAF’s bombing campaign. It’s Hamas that’s telling them to stay where they are.

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    Mute Dissasociated Follower
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    Oct 10th 2023, 7:57 PM

    @Squarepeg 01: As I understand it Israel gave palestinian civilians a 5 minute warning to evacuate a tower block and then blew it up 3 minutes later.

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    Oct 10th 2023, 9:21 PM

    @Dissasociated Follower: Israel uses its weapons as cover for its women and children. Hamas uses its women and children as cover for its weapons.

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    Mute Paul Connolly
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    Oct 10th 2023, 9:28 PM

    Thank God we live in this country and not Isreal Palestine Ukraine Syria practically any country in Africa Russia Poland Brazil ECT ECT

    11
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    Mute Jane Alford
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    Oct 10th 2023, 9:56 PM

    So nothing actually for pensioners….

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    Mute Szilvi Szabo
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    Oct 10th 2023, 9:36 PM

    Housing should be more supported for single parents and give more support and option for rent to buy sceem for residents who paying continuous tax in Ireland and resined over 10, 20 years. I feel sorry for refugees lost, loosing everything they have but suddenly they Comming to Ireland and get more support then Irish residents or foreign who living here decade no supports what so ever!!! Rent to buy could help for so many family’s.
    Also they increasing minimal wage and raising tax. What about self employed people? They have to raise again they price to be able to pay increased wages and extra tax. What will get back for it? Just hardship! Then so many customers surprising why businesses closing down? Because people working from home paying 0 tax and no rates!!

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    Mute Johannes Baader
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    Oct 10th 2023, 7:53 PM

    1276 Euro for Gardai / Police during training per month in Germany

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    Mute Joe x
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    Oct 11th 2023, 12:09 AM

    I see no mention of the fact that the carbon tax is going up at midnight tonight, which means regardles of the fact that they have held the excise cuts on fuel for another few months, we will still see price increases at the pumps tomorrow.
    At least they have decided to hold the VAT cut on electricity until October 24.

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    Mute Tommy Haze
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    Oct 10th 2023, 9:05 PM

    .

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    Mute Patricia Warren
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    Jul 1st 2024, 2:42 AM

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