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Your Guide to Budget 2024

This guide provides a high-level overview of Budget 2024. It aims to explain how money will be raised and spent in 2024.

One-Off Cost of Living Supports

€450 electricity credits (3 x 150)2023/24
€300 Fuel Allowance lump sumWinter 2023
€200 Living Alone Allowance lump sumWinter 2023
Double month Child BenefitWinter 2023
€400 Working Family Payment lump sumWinter 2023
€100 Qualified Child Increment lump sumWinter 2023
Double week for all weekly welfare schemesJanuary 2024
€400 lump sum to selected welfare categoriesWinter 2023
Double payment of Foster Care AllowanceWinter 2023

Tax Measures

  • An increase of €2,000 in the income tax standard rate cut-off point for all earners.
  • €200 increase in the Incapacitated Child Tax Credit.
  • €100 increase in the Personal Tax Credit.
  • €100 increase in the PAYE Tax Credit.
  • €100 increase in the Earned Income Credit.
  • €100 increase the Home Carer Tax Credit.
  • €100 increase in the Single Person Child Carer Credit.
  • A reduction in the middle rate of Universal Social Charge (USC) from 4.5% to 4.0%.
  • An increase of €2,840 in the threshold at which the middle rate of USC is paid, from €22,920 to €25,760.
  • Increase in the Rent Tax Credit from €500 to €750.
  • 75c Increase in Excise Duty and VAT on a pack of 20 cigarettes.
  • Extension of VRT relief for Battery Electric Vehicles to the end of December 2025.

Expenditure Measures

  • Free School Book Scheme for junior cycle students at post-primary level.
  • 1,000 new Garda and 250 Garda Staff.
  • Restoration of maintenance grants to postgraduate students on a similar basis to undergraduates.
  • 400 additional military personnel.
  • €67 million to provide 16,000 craft apprenticeship programmes.
  • 10,200 new tenancies under the HAP and RAS schemes.
  • 20% fare reduction on public transport continued to end of 2024.
  • 6,400 affordable homes for sale and rent.
  • 6,000 new households supported through Social Housing Current Expenditure Programme.
  • €207 million to bring back vacant and derelict units through the voids programme and Croí Cónaithe scheme.
  • €12 increase in the Weekly Social Welfare Rate for working age recipients.
  • €12 increase in weekly payments for Pensioners.
  • €54 per week increase in the Working Family Payment threshold.
  • €4 increase in weekly rate for a Qualified Child.
  • Up to 2,000 additional staff to enhance capacity across acute and social care services.
  • €1 million per day invested in cycling and walking infrastructure.
  • €1 billion for the development, protection and renewal of our road network.
  • €348 million to connect a further 100,000 homes to fibre broadband.
  • National Childcare Scheme hourly subsidy increased from €1.40 to €2.14 effective from September 2024.
  • €380 million for residential and community energy schemes.
  • Additional €50 million for school transport scheme.
  • Over 1,216 SNAs and 744 Special Education Teachers.
  • Extension of Child Benefit to 18 years old in full time education.

See the budget in full here.

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