(iRadio Budget 2024)The Government has unveiled a €6.4 billion Budget package for 2024.
It includes tax cuts, increases to a box of cigarettes, and cuts to the costs of childcare.
The average worker will be €780 euro better off after Finance Minister Michael McGrath announced a number of income tax measures.
The higher rate of income tax entry point will go up to €42,000, while there are cuts to the Universal Social Charge (USC).
Minister @mmcgrathtd has announced a USC package to the value of €350 million to provide much needed assistance to tax payers across all income levels. #Budget2024 pic.twitter.com/kQqH5DvAVX
— Department of Finance (@IRLDeptFinance) October 10, 2023
The price of packet of cigarettes will go up by 75 cents, while petrol and diesel will go up by 2.1 and 2.5 cents respectively because of an increase in carbon tax.
€5.3 billion has been committed in spending, along with a €2.3 billion cost of living package.
However the overall health spending of €22.5 billion is down from last year's total budget of €23.4 billion.
Childcare costs will be cut by a quarter from next year, while there will be a €12 euro increase in core social welfare rates, and 1,000 new Gardaí.
