Budget 2024 was unveiled on Tuesday.
The Irish Government has unveiled a 14 billion euro budget package it insists balances the needs of today with the future wellbeing of the economy.
Mr McGrath also announced two new funds that will use Ireland’s multi-billion euro windfall from corporation tax receipts, mostly derived from multinational companies, to invest in future priorities, including support for the response to climate change. Among the one-off, cost-of-living supports are three electricity credits worth 450 euro; a winter fuel allowance lump sum of 300 euro; a 200 euro winter living alone allowance; a Christmas bonus for welfare recipients; and 250 million euro in one-off business supports.
There is also a reduction in the middle rate of the Universal Social Charge , a controversial tax introduced after the financial crisis, from 4.5% to 4%. The 4.76 billion euro for “exceptional challenges” includes 2.5 billion euro for measures like the education, welfare payments and accommodation for Ukrainian refugees; 1.3 billion euro for the ongoing Covid-19 response in Ireland; and 700 million euro for other responsive provisions under by the National Recovery and Resilience Plan.
But he said that was not based on spending money “we may not always have”, referencing the windfall corporation tax receipts. Delivering his party’s budget response, Mr Doherty said the housing crisis should have been the number one priority in the budget.The opposition TD said the budget had done “next to nothing” for the health service.
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