One of the biggest social welfare packages in the state´s history
Finance Minister Jack Chambers and Public Expenditure Minister Paschal Donoghue announced the 2025 Budget at 1 pm.
With a surplus of over €25 billion, the Government have produced one of the biggest social welfare packages in the history of the state. It provides an overall package of €8.3 billion, of which €6.9 billion represents additional public spending. Taxation measures of €1.4 intend to help shield workers from higher taxation arising from wage inflation.
We’ve broken it all down to show you how students will benefit from it:
- Undergrad student fees will be reduced by €1000, leaving fees at €2,000 in total for the academic year
- Apprentice contribution fees have seen a once-off reduction of €1,000
- Support for postgraduate students’ fee contributions increase from €4,000 to €5,000
- The Student Universal Support Ireland (SUSI) threshold is to increase by around 15%, making it available to more students
- Minimum wage rises by 80 cents per hour to €13.50 from January 1, 2025
- 20% public transport fare reduction is extended from last year
- Renters tax credit is increasing by €250 to €1,000
- An energy credit of €250 for all households will be paid in 2 equal payments. One will be paid before Christmas.
- You’ll have a little more in your pocket due to the cut of Universal Social Charge from 4% to 3% on incomes between €25,000 and €70,000.
- Excise duty on a pack of 20 cigarettes is to increase by €1 from midnight, bringing the most popular packs to €18.05
- A tax on e-cigarettes will be introduced at a rate of 50c per ml of e-liquid on public health grounds. An average price of €8 per vape will increase to €9.23. This will happen in the middle of next year
- No increase in excise duties on alcohol
- It will cost more to drive to college -Vat and carbon tax increases will raise the price of petrol by 2.1 cents per litre and diesel by 2.5 cents per litre
A tax break on gym memberships will be discussed throughout the year as a possibility for Budget 2026.
Check out our socials to see a brief video breakdown of everything you need to know.