Ministers Michael McGrath and Paschal Donohoe have announced a budget package for the coming year worth €14 billion. 

This is split between expenditure measures of €5.3 billion, €1.1 billion worth of tax measures and a €6.4 billion core package. 

A reduction in childcare fees, an increase in carbon tax and an increase to the rent tax credit are among the biggest measures. 

Mr McGrath said he is due to launch an awareness campaign with Revenue on tax credits available in Ireland to address the lack of people claiming credit they are eligible for. 

Here are the main provisions of Budget 2024: 

Welfare 

• All weekly social welfare and pension payments will increase by €12 
• The Christmas bonus for social welfare recipients will be paid in full in early December 
• €300 lump sum payment will be introduced for fuel allowance recipients 
• Living Alone Allowance recipients to receive €200 lump sum 
• A once-off €400 payment will be given to those who get Carers Allowance and Disability Allowance 
• A once-off double week cost-of living support payment to all Social Protection recipients will be paid in January
• The Free Travel Scheme is to be extended to people who are certified medically unfit to drive

Taxes 

• The lower tax band will rise by €2,000 to €42,000. 
• Pay-related Social Insurance to increase by 0.1% from October 2024 
• Personal employee PAYE and earned income tax credits to increase by €100. 
• Universal Social Charge (USC) to drop from 4.5% to 4%. 
• The entry rate into the third band of USC has been raised to €25,760 
• The 9% VAT rate for gas electricity is to be extended for another 12 months 
• Rental tax credit has been increased to €750 
• Small landlords’ rental income of €3,000 will be disregarded in 2024, €4,000 in 2025 and €5,000 in 2026 and 2027 
• Three energy credits of €150 each will be provided between the end of this year and April of next year 
• Carbon tax will rise from €48.50 per tonne to €56 per tonne from October 11th 
• The VAT on e-books will reduce from 9% to zero in January, bringing it in line with printed books 

Cost of living 

• A cost-of-living package worth €2.7 billion will be introduced based on windfall revenues from energy sector 
• Minimum wage is to increase by €1.40 to €12.70 
• A packet of cigarettes will increase by 75 cents, raising the price to €16.75 
• A domestic tax on e-cigarettes will be introduced in next year’s budget 
• A Future for Ireland fund with potential to grow to over €100 billion will be introduced to help meet the costs of running the State in the future. 
• The 50% discount on public transport extended for two years and expanded to 25-year-olds up to their 26th birthday 

Parents and families 

• Child Benefit will be expanded to include 18-year-olds in full-time education 
• A 25% reduction in childcare costs will be implemented from September 2024 
• Home carer and single person child carer credits will rise by €100 
• Double payment of Child Benefit to be paid before Christmas 
• Double payment will also be given to those receiving Foster Care Benefit 
• The Parents Benefit will be extended to nine weeks from August 2024 
• The income threshold for the Working Family Payment will increase by €54 per week 

Work 

• €25 million to be added to the Garda Overtime Budget
• €9 million to be invested in Local Enterprise Officers 
• €250 million scheme for business supports is to be established 
• €348 million will be invested into the National Broadband Plan to support remote workers 

Health 

• €22.5 billion to be invested in the Department of Health 
• €1.23 billion to be provide through the National Development Plan for infrastructure, including an €808 million increase in core current funding
• €64 million to be invested in disability service 

Housing 

• €7 billion to be invested into the Department of Housing 
• €1.9 billion to be invested to build 9,300 new social housing units 
• The Help to Buy scheme has been extended to the end of 2025 
• A one-year mortgage tax relief will make 165,000 mortgage holders eligible for up to €1,250 
• The Vacant Homes Tax will be increased to five times the property’s existing basic Local Property Tax 
• €90 million will be spent for the retrofitting of social homes 

Education 

• Money will be invested to introduce an 740 additional teachers to support those with special educational needs 
• Free schoolbooks scheme to be extended to Junior Cycle secondary school students 
• Fee waivers for school transport and State exams to be introduced 
• Hot school meals will be expanded to a further 900 primary schools from August 24th 
• 33% cut in contribution fees for apprentices 
• A €1,000 cut on the college contribution fee will apply to all students 
• Third-level students living in digs and/or their parents will be eligible for the rental tax credit 
• Student grants to increase by €300 from January 

Climate and Environment 

• €14 billion will be put aside for the new Infrastructure Climate and Nature Fund by 2025 
• The fund will have a climate and nature component worth over €3 billion to help with carbon budgets through capital projects where climate targets aren't being reached 
• A tax disregard up to €400 per year will apply to those who have renewable energy supplies on their home 
• The consanguinity relief will be extended for five years to support transfer of farms from one generation to another 
• €380 million to be invested in residential and community energy schemes 
• €32m in carbon tax funding will be provided to support up to 50,000 farmers to improve biodiversity, climate, air and water quality outcomes 
• €700 million to be invested into farmers using “agri-environmental practices” 

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