Budget 2027 main points
Cigarettes Midnight Price Increases
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A packet of cigarettes will increase by €1
Vape products will increase by 20 cent
No increase on alcohol
Petrol and Diesel
Reduced fuel excise extended until February 28 2007 with a gradual restoration in four phases until June 30 2027
There will be two Carbon Tax rises in 2027
Social Welfare
€10 increase in weekly Social Welfare rates
Weekly fuel allowance rate to increase by €5
New cost of disability payment of €500 for those in receipt of long-term disability payments
Living Alone Allowance to increase by €3 per week
Housing
Rent-a-Room Scheme tax-free threshold to increase from €14,000 to €16,000
First-time buyer’s Help-To-Buy Scheme will increase by €5,000 to €35,000
Rent Tax Credit increased by €150 to €1,159 for single people and €2,300 for couples
Income Tax/ Employment
Minimum wage to increase to €14.94 per hour
Entry threshold for the USC 3% band increased by €1,600
Home Carer tax credit will increase by €100
Income tax standard rare cut off point up by €2,500 to €46,500
Family and Childcare
Working Family Payment weekly incomes thresholds to increase by €30
Childcare fees to be capped at €550 per month
Rural Pubs
€15m to support rural pubs across the country
Farming
Additional €31m allocated for new fertiliser scheme with fuel income support for farmers extended
Wear and Tear Allowance for farm safety equipment extended by three years
Climate
Carbon Tax on kerosene and natural gas reduced to €48.50 per tonne of C02 for lifetime of Government
Vehicle Registration Tax (VRT) relief schemes for electric vehicles extended for two years
€1.3bn to support climate measure including retrofit grants including boiler scrappage scheme
€2.3bn for Uisce Éireann to fund new water and wastewater infrastructure
Health
Free contraception schemes will now be available to people aged up to 37
33,000 extra hours of free counselling for men, young people and the LGBTQ+ community
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BUDGET 2027 proved to be a mixed bag for many people with some welcome measures, while other said it didn’t go far enough considering the cost-of- living crisis.
Smokers were once again hit, this time with a €1 increase pushing the cost of a pack of cigarettes to €20 from midnight last night while vape and E liquid products have also seen an increase of 20 cent.
However, there was no price hikes on alcohol.
Relief for motorists and farmers came with the confirmation that the reduce fuel excise is being extended until February of next year but there will be a gradual restoration in four phases until June of next year.
Social Welfare rates are to be increased by €10, while the minimum wage is to be increased to €14.94 per hour, while the Home Carer tax credit will increase by €100.
Weekly fuel allowance rate will also be increased by €5, while the Living Alone Allowance is to increase by €3 per week.
The Rent Tax Credit is being increased by €150 to €1,159 for single people and €2,300 for couples, while the Rent-a-Room Scheme tax-free threshold to increase from €14,000 to €16,000
There was welcome news for rural pubs with a €15m support package announced, which was welcomed by VFI (Vintners Federation of Ireland) who said it will provide a breathing space for publicans across the country.
“€15m in support is a great starting point and we will work with that. We look forward to working with the Government to make sure the support is delivered in the most effective way possible,” said VFI CEO Pat Crotty.
The IFA has welcomed measures including an additional €31m allocated for a new fertiliser scheme and that fuel income support for farmers has been extended.
