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Larger Package of Tax Measures in Budget than Expected
The package includes €1.65 billion in tax cuts and a €550 monthly childcare cap, with pension and welfare rates set to rise by €10 a week.
- On Tuesday, Finance Minister Simon Harris and Minister for Public Expenditure Jack Chambers unveiled an €8.5 billion Budget 2027 package prioritizing tax reductions for workers and support measures for families amid economic volatility.
- Government leaders concluded negotiations on Monday after intense discussions regarding a 6 per cent spending ceiling, reflecting a revised €6.9 billion surplus forecast for this year, down from €9.2 billion anticipated in April.
- Income tax changes raise the standard rate cut-off to €46,500, while families will see childcare costs capped at €550 monthly starting September 2027, a significant step toward the government's €200 monthly target.
- Social welfare rates increase by €10 weekly and fuel excise cuts remain in place until February 28, 2027; the government introduced a new €500 cost-of-disability payment to support vulnerable households.
- Sinn Féin leader Pearse Doherty criticized fuel allowance adjustments, while Licensed Vintners Association CEO Donall O'Keeffe warned minimum wage hikes pressure urban pubs; rural pubs receive €15 million in support allocation.
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Budget 2027: Income tax threshold hiked to €46.5k, social welfare up €10 a week, and fuel excise decrease extended
The higher rate of income tax threshold has been increased to €46,500, social welfare payments have been hiked by €10 per week and the reduction in fuel excise extended until February in a range of measures announced by Simon Harris in his Budget 2027.
What we're expecting to see in the Budget 2027
With Budget Day here, much of what to expect is already out there. That said, there are a few well-flagged items that might not make the final cut when Jack Chambers and Simon Harris get up to speak from 1pm on Tuesday. Here's what to keep an eye out for in the Budget this afternoon... […]
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Total News Sources29
Leaning Left4Leaning Right1Center7Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 33%
C 59%
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