Budget details on tax, health and social welfare to be finalised. people’s standard of living would improve on the back of the budget says Finance Minister Michael McGrath. Coalition leaders are expected to finalise the details of Budget 2024 , with issues related to tax, health and social welfare decided. The cost-of-living measures will not be as large as last year’s €4.1 billion package, the Government indicated.
Taoiseach Leo Varadkar said the tax package and measures for small businesses were among the outstanding issues, as were two of the big-budget departments, health and social welfare. Mr Varadkar said government ministers would be “burning the midnight oil” on Sunday to finalise details.
Food delivery drivers were seen arriving on Sunday to drop orders at Government Buildings as ministers arrived for the last of the talks. The three coalition leaders met Finance Minister Michael McGrath and Public Expenditure Minister Paschal Donohoe on Sunday to confirm the measures ahead of Tuesday.
Mr McGrath indicated on Saturday that people’s standard of living would improve on the back of the budget, and said he hoped the measures would have their desired effect. The total cost of Budget 2024 is about €6.4 billion, with taxation measures worth €1.1 billion of the total.
Among the measures being floated are one-off electricity credits worth less than last year’s, a cut in the USC and measures to help both landlords and renters. “As you know, pretty much half of all the Government spends is healthcare, social welfare, pensions, so they pretty much go down to the wire,” Mr Varadkar said ahead of the meeting.
“What I can say on the tax side is that there will be a good income tax and USC package, all income earners – workers, pensioners – will see a reduction in income tax and USC, and also there will be a package to help small businesses because we’re very aware of the increased costs that are coming at businesses at the moment.