Editor's Pick

Budget 2025: What you need to know

Budget 2025: What you need to know

Updated 14:27

35 million extra will be allocated to the global Ireland strategy.

€810 million will go towards overseas development and aid.

€2.1 billion will be allocated for Ukranian refugees.

Advertisement

While 25 million has been allocated for the community recognition fund for those integrating Ukrainian arrivals.

Arts, Culture and Media

380 million has been allocated to arts and culture.

This includes 107 million to the Gaeltacht, and 226 million to Tourism.

€328 million euro has been allocated to media funding. This includes six million for the independent broadcasting sector.

Advertisement

There will be a 22 per cent increase in capital money for defence.

There'll be a further 400 defence force members in 2025.

Justice and Gardaí

350 extra staff will be recruited for the Prisons Services.

There'll be an additional one thousand Gardaí and 50 civilian Gardaí.

Advertisement

400 additional staff have been allocated for the International Protection Processing system.

7 million euro has been allocated to tackle gender and domestic violence.

Updated 14:22

A 1.5 billion euro package for funding research and higher education skills has been announced. This runs until 2030.

This includes 150 million increase in core higher education funding.

There will be a new Energy Subsidy Scheme for businesses worth 170 million euro for 39 thousand firms has been agreed.

Agriculture

Two billion euro has been allocated for Agriculture.

30 million euro for a new tillage scheme to support field crops.

10 million for animal health measures.

22 million for the national sheep welfare scheme.

8 million to enhance payment rates on the beef welfare scheme.

Updated 14:18

Three billion euros has been allocated for the climate transition funds.

The reduction of greenhouse gas emissions, water quality or biodiversity will be looked at.

Warmer homes grants will reach ten times the funding from 2020 and will meet up to half the cost of energy efficiency upgrades

Housing

3.2 billion euros in capital funding will be allocated for the housing sector.

10,000 new build social homes at a cost of 2 billion euro in 2025.

680 million will be allocated for key affordable housing schemes.

10,000 new households under the HAP and RAS schemes in 2025.

186m new funding has been allocated to regenerate towns and urban areas

90 million euro has been allocated to retrofit 2,500 social homes in 2025.

Updated 14:13

Apple Tax - Government has agreed the Apple money should be used across water, electricity, transport and housing as four key pillars

Healthcare

495 new beds will be added to the health service.

An additional 600,000 home support hours.

There will be increased access to free IVF and new free HRT.

There will be a 336 million euro increase in money for disability services for extra residential care beds, respite, home support hours.

Updated 14:08 

Schools and children

The hot school meals programme will increase to all primary schools in 2025.

A baby bonus of 420 euros to be paid for each newborn child.

Two double payments of child benefit will happen in November and December.

400 euro lump sum on the working family payment this year.

A one thousand euro reduction off the student contribution fee at the third level.

One off 33 per cent in contribution fee for higher education.

There will be an increase in the Post Grad Tuition fee by 1 thousand for student grant recipients.

Maternity, paternity, adoptive and parents leave will rise by 15 euro.

National Childcare Scheme budget to increase by 44% leading to full-time childcare costs reducing by an average of 1,100 a year.

The number of children availing of the scheme will increase to 216 thousand.

1,600 new SNAs and 768 special education teachers will be recruited.

An unknown amount will be allocated to keep schools smartphone free and allow them to but technology to do that.

Free school books will be extended to all secondary school students.

Updated 13:56

School transport - The school transport fee reduction and the state exam fee waiver will continue.

Social Welfare

300 euro to those on fuel allowance in November.

200 euro extra on the living alone allowance.

400 euro to those on carers support grant, disability allowance, blind pension, invalidity pension and domiciliary care allowance.

Increase to carers allowance disregard to 625 euro for a single person and 1,250 for a couple.

Increasing domiciliary care allowance by 20 euro.

Increasing carers support grant by 150 euro.

Enabling carers allowance to be an enabling payment for fuel allowance.

An October and a Christmas social welfare double payment will be made.

Updated 13:48

The VAT rate on heat pumps will be reduced from 23 to 9 per cent.

The motor insurers insolvency levy will be reduced from 1% to 0% from 1st Jan.

The excise relief on small cider and perry producers will be extended.

Updated 13:45

Vacant homes - Tax on vacant homes tax is to rise from 5 to 7 times the local property tax rate from November.

Carbon tax will increase on October 9th. It'll rise from 56 to 63.50 for petrol and diesel.

Updated 13:42

Stamp Duty on bulk purchases of homes by investment funds will rise from 10 to 15 per cent.

Stamp duty will also increase on high-value residences.

From tonight there will be a 6% rate of stamp duty on properties worth more than 1.5 million.

The bank levy will be extended for another year with an estimated yield of 200 million.

 

Updated 13:40

Tobacco - A pack of cigarettes is going up by one euro from midnight tonight.

Pro-rate increases on other tobacco products are included. This brings the most popular pack to €18.05.

Vapes - A tax on e-cigarettes will be introduced at a rate of 50 cent per ml of e-liquid. This comes into effect from the middle of next year.

Updated 13:36

Farming - Extention to the 2027 of the general stock relief for young trained farmers.

There will be stock relief for registered farm partnerships.

The flat rate scheme for farmers is being raised from 4.8 to 5.1 per cent.

There will be an option for farmers and others who might be impacted by the residential zoned land tax to apply for a 2025 exemption if they want the land re-zoned to reflect work carried out

Updated 13:34

A new relief for expenses incurred with the listing on the Irish or European stock exchange will be introduced with a cap of one million euros.

Arts - A tax credit on unscripted productions at a rate of 20 per cent on expenses of up to 15 million euro for the audiovisual sector is to be introduced.

While 20 million euro will be available for film productions under the 481 tax credit.

Updated 13:30

Gas and Electricity - The 9% VAT rate on both is being extended for six months, until April 30th 2025.

There will be an increase in the first year of the R&D tax credit from 50'000 to 75'000.

There will be a partial exemption for foreign dividends for companies.

The Employment Investment Incentive will be doubled from 500,000 to one million euro.

Reliefs will be increased on start-ups for entrepreneurs.

There'll be an increase of the lifetime limit on gains for angel investors in innovative start-ups from 3 million to 10 million.

Updated 13:25

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 relief on Benefit in Kind for company cars is being extended for another year.

It stands at 10,000 euro on the original value of the car.

Housing - The Help to Buy scheme is being extended until the end of the decade.

Renting - Pre letting expenses relief for landlords is being extended to the end of 2027.

Taxes, wages and inheritance

Updated 13:20

The carer tax will be increased by 150 euros.

A single-person child carer will receive 150 more, incapacitated child credit by 300, and dependent relative credit by 60.

Inheritance - Inheritance tax is increasing from 335k to 400k from a parent. It rises from 32,500 to €40k for Group B, and €16,250 to €20k for Group C.

Updated 13:17

Main tax credits will increase by 125 euros on personal, employee and earned income

The higher rate of tax rises two thousand euro to 44,000.

USC will see the 4% rate reduced to 3%. Entry rate to 3% rate of USC will rise to 27,000.

Minimum wage is to rise by 80c to €13.50 an hour from January 1st.

This means a full time worker on the minimum wage will see their net income rise by 1,424 annually.

Updated 13:14

Minister for Finance Jack Chambers has begun announcing Budget 2025.

He says the budget will be €8.3 billion of new money. That's a 6.9 per cent growth on last year.

One billion euro has been allocated to Irish Water.

750 million has been allocated to Eirgrid, and 1.25 billion to the Land Development Agency.

Three billion has been allocated to the infrastructure fund.

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

Advertisement