6th Oct 2026 13:42
(Alliance News) - Budget 2027 sets out an "optimistic" path forward for Ireland, the country's deputy premier has said.
Simon Harris outlined increases to tax credits as well as the standard rate cut-off point for income tax as he began delivering the Budget in the Irish Dail parliament shortly after 1pm.
The Fine Gael leader and Finance minister said that the government could not achieve everything it wanted in a single Budget but said Tuesday's measures would set the country "on a path, a trajectory, a way forward."
He said: "The path we are setting out here today is an optimistic one for Ireland".
He added: "Today we're announcing a personal income tax package of EUR1.3 billion.
"I'm increasing the standard rate cut-off point by EUR2,500 to EUR46,500, with proportionate increases for married couples and civil partners.
"I'm increasing each of the main tax credits, the personal employee and earned income tax credits by EUR125, and I'm increasing the home care or tax credit by EUR100."
Harris said the budget will reward work, where risk is repaid and investments in the future "bear fruit".
He said he wants people to know that the government has heard the public about the importance of a personal income tax package.
"People need to feel the benefits of economic growth in their own daily lives and indeed in their pockets," he added.
He added that the Budget balances "today's needs with tomorrow's musts".
Harris's speech will be followed by announcements from Public Expenditure minister and Fianna Fail deputy leader Jack Chambers.
Government leaders met for several hours on Monday to sign off on the final budget measures, which include increases to the state pension and reductions in childcare costs as some of its main features.
The budget comes amid growing concern over fuel prices, with measures included to address the cost of living.
Protests over fuel costs were held in several parts of the country earlier in the year.
By Jonathan McCambridge, Press Association
Press Association: News
source: PA
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