Budget 2025 Is Outlined In The Dáil.

Jack Chambers and Paschal Donohoe have been outlining the largest budget in the history of the State.

The budget will be €8.3bn of new money, a 6.9% growth on last year. Here are some of the highlights:

• Main tax credits will increase by 125 euro on personal, employee and earned income. Higher rate of tax rises 2k to 44k. USC will see the 4% rate reduced to 3%
• Minimum wage to rise by 80c to 13.50 an hour from Jan 1st
• Entry rate to 3% rate of USC will rise to 27k
• A full time worker on the minimum wage will see their net income rise by 1,424 annually
• Increase in the Carer Tax Credit by 150. Single person child carer by 150, incapacitated child credit by 300, dependent relative credit by 60
• Blind tax credit to increase by 300 euro
• Inheritance tax increasing from 335 to 400k from a parent. 32,500 to 40k for Group B. 16,250 to 20k for Group C.
• The exception to allow employers to give employees vouchers or other non-cash rewards is increasing from 1,000 to 1,500 a year
• Payments to women under the Cervical Check payment scheme will be exempt from tax
• The Help to Buy scheme is being extended until the end of the decade.
• The 9% rate of VAT on gas and electricity is being extended six months to 30th April 2025.
• Tax credit on unscripted production at a rate of 20 per cent on expenses of up to 15m for the audiovisual sector. 20m for film productions under the 481 tax credit.
• 186m new funding to regenerate towns and urban areas
• Government has agreed the Apple money should be used across water, electricity, transport and housing as four key pillars. Investment framework being developed
• Free schoolbooks extended to all secondary schools
• Money to keep schools smartphone free and allow them to buy tech to do that
• 3bn euro for the climate transition funds. Reduction of greenhouse gas emissions, water quality or biodiversity will be looked at