The Government has delivered the biggest budget in the history of the State including €8.3 billion euro in extra spending and tax cuts.
Schoolbooks will be free, vapes will be taxed for the first time, and ministers cut the USC.
The coalition delivered its final budget with massive spending increases and tax cuts worth €1.4 billion.
Tax credits will rise by €125 while the 4% rate of USC has been cut to 3% and people won't pay the higher rate of tax until they earn €44,000.
New parents will benefit from a baby bonus of €420 per newborn.
Social welfare rates will increase by €12 a week along with multiple once off payments including an October and December double payment.
Two energy credits of €125 each will be offset by rising carbon tax from next week.
Cigarettes
A box of 20 cigarettes will increase in cost by a euro tonight and vapes will be taxed for the first time under the last budget of this coalition.
It brings most popular pack price to €18.05.
A tax on vapes to be introduced at a rate of 50c per ml of e-liquid from the middle of next year. Typical vape has 2ml so average price will go from €8 to €9.23
Income tax will be reduced and motor insurance premiums could come down next year under plans announced in the budget.
Minimum wage to rise by 80c to €13.50 an hour from Jan 1st. A full time worker on minimum wage will see their net income rise by €1,424 annually.
The exception to allow employers to give employees vouchers or other non-cash rewards is increasing from €1,000 per year to €1,500.
Renters tax credit rises by €250 to €1,000 euro per year.
The Help to Buy scheme is being extended until the end of the decade.
#Budget2025 thread
- Minimum wage to rise by 80c to €13.50 an hour from Jan 1st. A full time worker on minimum wage will see their net income rise by €1,424 annually
- USC 4% rate reduced to 3%
- Higher rate of tax rises by €2,000 to €44,000
— 98FM (@98FM) October 1, 2024
Temporary fare reductions of 20% for adults and the young adult card 50% reduction will be continued.
Free public transport for those under 9 years old.
350 extra staff for the Prison Service, 1,000 gardai and 50 civilian gardai, 400 additional staff for the International protection processing system, €7m for organisations tackling gender and domestic violence, and 400 extra defence force members in 2025.
