By Isaac O’ Connor and Grace Hanna
Budget 2025 was unveiled yesterday, 1 October, and is the biggest budget in the history of the Irish state. Here’s everything you need to know.
€8.3 billion has been announced in extra spending and tax cuts.
It was announced in Leinster House by Minister for Finance, Jack Chambers, that there will be a €1.5 billion in ‘one-off’ social welfare payments, as well as a cost-of-living package, which will include €250 worth of energy credits.
The national minimum wage will go up by 80 cent, increasing to €13.50 per hour from next January.
Ministers have cut the USC rate from 4% to 3%.
€3.2 billion in capital funding has been allocated to the housing sector.
A further €680 million has been allocated for key affordable housing schemes.
10,000 new houses will be built under the Housing Assistance Payment (HAP) and Rental Assistance Scheme (RAS).
Other initiatives revealed in the new Minister for Finance’s first Budget included free schoolbooks for students up to Leaving Cert, a baby bonus payment of €420 for new parents and free hormone replacement therapy for women.
The National Childcare Scheme budget will increase by 44 per cent, leading to full-time childcare costs reducing by an average of €1,100 euro a year.
A new pensioner pass will allow those over 70 years of age to bring a friend with them on public transport for free.
Undergraduate students will benefit from a cut of €1,000 to their registration fees, while post-graduate students will receive an extra €1,000 in their fee contribution grant.
The rate of carbon tax will increase on 9 October to €63.50 for petrol and diesel.
A tax on e-cigarettes will be introduced at a rate of 50c per ml of e-liquid.
The price of the typical disposable vape will also rise from €8 to €9.23 from the middle of next year.
The average pack of cigarettes will rise by €1, bringing the most popular pack to €18.05.
An Energy Subsidy Scheme for businesses has been allocated to the housing sector worth €150 million.
The health budget will make provision for 600,000 extra home support hours, 495 new beds and an increased access to free IVF and new free HRT.