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FINANCE MINISTER MICHAEL McGrath will be in the hot seat today, taking to his feet in the Dail at 1pm to announce Budget 2024.
McGrath is the first Fianna Fail member to hold the office since Brian Lenihan and the dark days of austerity which led to the downfall of the party after the crash.
This time around, McGrath says he will be telling a different story than his predecessor.
The total Budget 2024 package is about €6.4 billion, including taxation measures worth €1.1 billion.
Cost-of-living measures
Tax measures
Social welfare
Social welfare recipients will get the usual Christmas bonus, followed by an additional payment in January. This will amount to an extra €140 (double) for Child Benefit, €100 for the Qualified Child Bonus, €200 for the Living Alone Allowance, €400 for the Carers Support Grant, €400 for the Disability Support Grant, €400 for the Working Family Payment, and €300 for the Fuel Allowance.
Justice
Housing
Business
Education
Childcare
Health
Other measures
The finance minister has said that following today’s budget, people’s living standard will improve – however, he has sounded warnings about the need to prepare for clouds on the horizon.
Transport Minister Eamon Ryan confirmed yesterday that an increase in PRSI was also being discussed in the afternoon.
“We need some tax-raising measures. We have to careful to get the balance right. Our economy is at full tilt. We have to protect people from the cost of living impacts but at same time we have to make sure that we maintain sustainable public finances,” he told reporters.
Tanaiste Micheal Martin has said the Budget will provide support to deal with the pressures they are under with the cost-of-living, while specifically mentioning the that it should help young people aged in their 20s and 30s.
He said the government will protect this age cohort’s future entitlements and secure their futures.
Meanwhile, Public Expenditure Minister Paschal Donohoe said “we really never know what is around the corner”, stating that the government is attempting to get the “balance right” in a way that will keep Ireland economically safe.
McGrath will begin his speech at 1pm, followed by Donohoe at 1.45pm. The speeches are expected to conclude at 2.30pm.
Sinn Fein will get an hour to reply, followed by Labour, the Social Democrats, People-Before Profit, and the three independent groups, with each party or group getting 45 minutes to speak.
All speeches are due to finish at 8pm and any Dail debate on any overnight financial resolutions will take place from between 8.30pm to midnight.
The Journal will bring you all the latest from Budget 2024 with a liveblog running throughout the day.
Our newsroom team and the politics team based in Leinster House will bring you all the latest as it happens, with breakdowns of what Budget 2024 will mean for you.
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The smugness in that photo is stomach churning stuff….
@Paul Gorry: Mcgrath is finance minister?! If you have insomnia, watch him speak, and cure it. Wait, Bilderberger Paschal is another?
@Paul Gorry: you want glum? Look in the mirror
Tax on vaping under the guise to stop the young vaping. Well just in force the law stopping them buying and using vapes. Otherwise put extra tax on alcohol and driving and all the other things limited by age. The tax on vaping is simply a money grab to replace revenue lost on smoking. And yes I am a vaper, gave up smoking 10 years ago, couldn’t run, constant cough, started vaping, hiked the entire Camino last year, cycle 40km 3 times a week and never felt better, but hey tax the product that got me off fags.
@: he cycles 40km three times a week and walked the Camino in its entirety, I’d say his lungs are just fine , fair play to him .
@Eddie Garvey: you mean extra taxes on top of the extra taxes that already apply to alcohol, driving, etc?
@Eddie Garvey: Missing the point, as many do, which is that the availability and relative cheapness of vapes is causing untold numbers of young people to become addicted to nicotine that previously wouldn’t have ever smoked. This comment is a great example of “main character syndrome” – it’s not always and only about you.
@: Will a tax stop the noxious chemicals?
@Jason Memail: Nicotine is no more harmful that caffeine. Should we be pumping the tax on lattes?
@Sean Wilde: Yet significantly more addictive. If you can’t see the difference, that’s on you.
@Jason Memail: April fools Day has come early I see
A classic FFG budget. Providing next to nothing again for the squeezed middle who pay for everything. No better off when all is said and done.
@Journal Factchecker: I don’t see anything about how much of the budget will be going to the corrupt NGO complex. It was over 10 billion last year.
So they give a bit back on usc but up PRSI!! So no change …oh elections is coming ..
@Michele Milne: it’ll be interesting to see how much they increase the dole by compared to what workers get. A worker on 40k will only see a benefit of 85€, one on 35k will only see a benefit of 60€….. etc from the budget through the USC reduction, they won’t benefit from tax band increase. Put the dole up something like a 10er and that’s worth 520€…. Sickening that this is all they’re giving back to workers on these wages when they are taking in massive amounts of income tax. 33 billion last year, which is 50% more than the 22 billion they took in during 2017. They’ll also be taking back many multiples of what they give through VAT and excise on the higher cost of everything
Kept that one quiet about PRSI increase didn’t they? Absolute snakes.
@Mary Looners: lot of people can’t wait for that to be enacted. A year off work on enhanced dole, and the novel experience of an Irish person who has paid tax for decades actually getting something back for their decades of hard work, makes it very attractive
@Roj: The tax I’m already paying should well cover my “salary linked dole” if I ever need it. And thats a big IF.
People ain’t buying the ffg bs anymore.
Put your money in the freezer. That way you’ll always have access to cold hard cash.
@Tommy Haze: …frozen assetts…
If the Journal won’t allow comments on the stories that matter, they’re going to find the fewer and fewer stories where they do allow comments swamped with unrelated comments. There are two major wars going on now of direct relevance to Europe, but we’re only allowed comment on what amounts to bean counting.
With social media , FFG can’t bluff people anymore. They’re done.
@Davy: 100%. They will be anhillated at the next election. They underestimated it last time round snuck in the back door with Lieo & Rat Martin needing multiple recounts in their own constituencies. More and more have seen through their BS and lies. Forget what any of the polls say, all nonsense
@Journal Factchecker: I think you’re mixing up count and recount, as practically every constituency has a recount or two at some point during the various stages of counting
@Journal Factchecker: You really need to learn how the Irish electoral system works.
In one hand and out the other. Load of horse manure.
Papering the cracks, people don’t buy the creative accounting anymore, can we have a budget for all lower,middle and high earners and not something to push votes.
Typical, the hard-pressed worker up at the crack of dawn, Home at the dead of night.
Ah, yeah,… just lumber tgem with even more tax & tell them plenty of lies.
12 million increase to tackle domestic, sexual and gender based violence? Those laws are being tackled long before today and the agency is the Gardai formed 101 years ago
@mainmsam: No no, this is McEntees new ‘Hate Speech’ unit. Like the UK, they’ll be at your door if you have a disagreement on biology with some nut bag
@Journal Factchecker: can I take it all back then?!
Is Tom and Jerry cartoon on tomorrow at 1pm, the things they do really create chaos.
Who he smile to ? I think he needs medication to control his facial uncontrollable hole .
So USC is finished? Ant I get to rake home an extra 100 a week? Great!!
Working poor will get the Crumbs
Who was it who said that a young person who isn’t left wing us heartless and an old person who isn’t right wing is brainless?? The optimum would ly in the middle. Enough support to prevent tragedy with enough encouragement to allow luxury (not the best word but at 7.15am I can’t think of a better one!). So, today of all days, I would ask people of the left and right to stop thowing insults and brickbats at each other. To stop concentrating on what hasn’t been done. But instead to concentrate on what could be done. Together.
This absolutely better not be a give little from one hand and take more with the other. Increase the 20% cut off and get rid of the temporary tax that it’s tbe usc.
Had hoped over 18s in school would get their child benefit reinstated
“Roll out of the new pay-related-benefit scheme to ensure those that lose their jobs get higher social welfare payments that are linked to their previous salaries”
How much is this going to cost? Can we opt out when we already have payment protection in place?
I don’t know what’s the big deal of this budget speech today, sure hasn’t the damn thing been announced on every media outlet all week. You’d be sick to the teeth of it all.
Ringing the dinner bell…come & get it!
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