BUDGET 2024 MAIN POINTS

COST OF LIVING

Social welfare bonus at Christmas, and another double payment in January Weekly and welfare payments rise €12 a week €300 lump sum payment to be introduced for fuel allowance recipients Three separate €150 energy bill credits between now and April 2024 9% reduced VAT rate for gas and electricity to be extended for another 12 months

TAX

PRSI to increase by 0.1% in October 2024 Standard Rate of Tax band rises €2k to €42k Higher USC Rate lowered from 4.5% to 4% Ceiling for lower 2% USC rate to rise, i.e. it will only apply to those earning over €25,670 a year Minimum wage rises €1.40 to €12.70 an hour. PAYE tax credits increasing by €100 a year

HEALTH

Total allocation of €22.5bn €430m allocated for health resilience fund to tackle post-Covid cost issues €9.5bn to fund entire health service pay bill A further €11bn to fund non-pay costs

EDUCATION

Free school books scheme announced for the first three years of secondary school Families earning less than €100k a year will have college fees halved to €1,500 Third level fees for those earning over €100k annually to reduce by €1,000 Fee waiver for school transport services extended for another year Hot school meals programme to be extended to another 900 schools by April next year

HOUSING

Rental tax credit increases from €500 to €750 Help-To-Buy scheme extended to 2025 Vacant property tax rate to rise from three to five times the rate of the LPT on each residence ÷Landlords to get tax breaks of €600-€1,000

CIGARETTES, VAPING AND FUEL

Cigarettes tax to rise 75c per packet of 20 Taxes to be introduced on vaping products in next year’s Budget Petrol and diesel prices to reduce by up to 3% under new Carbon Tax rises