Budget 2024 Ireland

Budget 2024 Ireland: A Comprehensive Breakdown

Introduction

Budget 2024 Ireland presents a roadmap for Ireland's economic and social development for the upcoming year. This in-depth analysis delves into the key elements of the budget to provide a comprehensive overview for readers.

Key Economic Indicators

The budget forecasts GDP growth of 3.5% for 2024, supported by strong consumer spending and investment. Unemployment is projected to fall to 4.5%, maintaining Ireland's position as one of the EU's strongest economies.

Taxation Changes

The budget introduces several tax changes, including:

• Increase in the standard rate of income tax from 20% to 21%.
• Reduction in the Universal Social Charge (USC) for low- and middle-income earners.
• Expansion of the Earned Income Tax Credit for self-employed individuals.

Housing Measures

Recognizing Ireland's ongoing housing crisis, the budget includes several measures to address affordability and supply:

• Introduction of a new "Help-to-Buy" scheme for first-time buyers.
• Increased funding for social and affordable housing.
• Reform of planning regulations to streamline housing development.

Healthcare and Education

The budget invests heavily in healthcare and education to enhance public services:

• Expansion of access to primary care and mental health services.
• Increased funding for the National Childcare Scheme.
• Investment in higher education and research.

Environmental Sustainability

The budget places a strong emphasis on environmental sustainability:

• Introduction of a new carbon tax on fossil fuels.
• Funding for renewable energy projects and energy efficiency initiatives.
• Investment in public transport and active travel infrastructure.

Conclusion

Budget 2024 Ireland represents a comprehensive package of measures aimed at addressing Ireland's economic, social, and environmental priorities. The budget's focus on tax reform, housing affordability, healthcare, education, and sustainability highlights the government's commitment to ensuring a prosperous and inclusive future for the nation.