News

Budget 2025: Everything we know before tomorrow's announcement

Budget 2025: Everything we know before tomorrow's announcement
ยฉ PA Wire/PA Images

The final details of Budget 2025 are being ironed out today, with a massive financial giveaway expected.

It's raining cats and dogs outside, but inside Government Buildings it's money that will be raining tomorrow, as the coalition prepares to splash the cash in its final budget.

A €2 billion euro cost-of-living package is being finalised and lots of early indicators show the range of announcements set to be made tomorrow such as two double payments of child benefit, possibly before the end of the year, are on the cards.

Increases in welfare rates including the State Pension are also expected as well as a €250 euro energy credit for households.

Advertisement

Fees for the Leaving and Junior Certificates are due to be cancelled for another year while the Help to Buy Scheme is set to be extended.

€12 euro per week increases to social welfare rates have been confirmed.

Meanwhile the Tánaiste Micheál Martin has been playing down reports of a rift in Government over what rate to pay those in long-term unemployment.

"There was never a big discussion about it. I genuinely think there has been a bit of a miss-spin here. A bit of mischief going on from a political point of view."

Advertisement

Double social welfare bonuses, cuts to income tax and USC, and increases in spending on housing and childcare all form part of the core package.

One Niall Conroy from the Irish Fiscal Advisory Council is wary of.

"We have caution that we don't think this is a good idea. When the economy is performing really well, as it is at the moment with really high employment and really low unemployment, this isn't the time when the economy really needs support from the government."

There will be funding in the budget for 1,100 additional prison spaces over the next five years.

Advertisement

This includes the recruitment of 350 new Irish Prison Service staff between now and 2025.

Funding will be given to recruit 800 to 1,000 additional gardaí while legal aid fees are to increase by 8 per cent under Budget 2025.

Then there are the big one off items - expect a firm plan for how the state will spend three billion raised from AIB shares and a plan for the Apple Tax money, when Jack Chambers delivers his first budget tomorrow.

Reporting by Seán Defoe & Beat News

Keep up to date with all the latest news on our website beat102103.com.

Advertisement