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Larger Package of Tax Measures in Budget than Expected
The package includes €1.65 billion in tax cuts and measures aimed at easing childcare, energy and household costs, officials said.
- On Tuesday, Finance Minister Simon Harris and Public Expenditure Minister Jack Chambers unveiled an €8.5 billion Budget 2027 package, combining €7 billion in new spending with €1.65 billion in tax changes to support families and businesses.
- The government expects a €6.7 billion surplus this year, rising to an estimated €9.5 billion in 2027, prompting officials to design the package addressing rising living costs and economic volatility.
- Workers will see income tax thresholds for the 40% rate rise to €46,500, while families receive a childcare cost cap of €550 monthly for children up to senior infants beginning September 2027.
- Weekly social welfare rates will increase by €10 per person, and fuel excise reductions are extended until February 28, 2027, as the administration seeks to alleviate household financial strain.
- A new Personal Investment Fund will launch on July 1, 2027, while a 7% derelict property tax takes effect to encourage housing supply and manage future property availability.
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Budget 2027: Income tax threshold hiked to €46.5k, social welfare up €10 a week, and fuel excise decrease extended
The higher rate of income tax threshold has been increased to €46,500, social welfare payments have been hiked by €10 per week and the reduction in fuel excise extended until February in a range of measures announced by Simon Harris in his Budget 2027.
What we're expecting to see in the Budget 2027
With Budget Day here, much of what to expect is already out there. That said, there are a few well-flagged items that might not make the final cut when Jack Chambers and Simon Harris get up to speak from 1pm on Tuesday. Here's what to keep an eye out for in the Budget this afternoon... […]
Evening Standard+2 Reposted by 2 other sources
Pension increases and cuts to childcare costs likely to feature in Budget 2027
Finance Minister Simon Harris and Minister for Public Expenditure Jack Chambers will unveil the spending plan in the Dáil later on Tuesday.
·London, United Kingdom
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Total News Sources27
Leaning Left4Leaning Right0Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 36%
C 64%
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