The official announcement is slated for October 1st, and early reports indicate a range of measures aimed at easing financial burdens for various groups.
Key proposals for Budget 2025 include a reduction in the Universal Social Charge (USC), an increased Rent Tax Credit, and doubled once-off payments for social welfare recipients, according to RSVPLive.
These measures, if implemented, would continue the trend of additional support seen in recent budgets.
In recent years, double payments and bonuses for social welfare recipients have become a standard feature.
Beneficiaries of payments such as Child Benefit, Fuel Allowance, and core social welfare have regularly received extra lump sums.
This year, for example, a once-off double week payment was distributed in late January, following the announcements made in Budget 2024.
Typically, payments eligible for the Christmas Bonus are also eligible for the once-off double week.
This trend is expected to continue, although the overall cost of living package in Budget 2025 is anticipated to be smaller than last year's.
Budget 2025 is set to include an additional €6.9 billion in public spending and €1.4 billion in tax cuts.
There is ongoing debate about the inclusion of electricity credits, which were previously paid in instalments of €200 and €150.
The Rent Tax Credit could see an increase to as much as €1,000. Housing Minister Darragh O’Brien is also reportedly advocating for the extension of tax cuts for landlords, a policy introduced in the previous year's budget to encourage landlords to remain in the rental market.
Additionally, the Green Party aims to maintain the 20% reduction in public transport fares, initially introduced as a cost-of-living measure and subsequently extended.
Fianna Fáil and Fine Gael ministers are supporting a 0.5% cut in the USC, consistent with last year's reduction, which brought the rate down to 4% for the first time in five years and was projected to cost around €400 million.
The final decisions will be closely watched, especially by social welfare recipients and other groups likely to benefit from the proposed changes.
