Budget 2024

zell12

Announced 10 October 2023. Kites flying galore

- Repeat most, if not all, of the once-off social welfare payments in the run-up to Christmas

- Once-off cost of living lump-sum payments to social welfare recipients likely

- At least one €200 electricity credit is expected

- Pension will increase, possibly +€15

- Other welfare payments will increase

- further reduction in the cost of childcare for families

- Probable double child benefit month

- more cuts to bus/rail fares

- increase in rent tax credit

TooTired123

Ignore all of this. It’s pointless discussing things that may never happen.

hawthorne

I see a lot of proposed goodies in the bag! Santa might arrive early this year.

Just one question: We are in debt to the tune of about 250 billion euro. Not a word about that anymore. And interests rates keep going up all the time.

Guffy

https://www.boards.ie/discussion/comment/121142808#Comment_121142808

Ah come on, we only discuss the debt during the first 3/4 of a term of office.

CrookedJack

https://www.boards.ie/discussion/comment/121142808#Comment_121142808

You don't understand how countries issue and service debt it seems. The interest rates going up are not the interest on our sovereign bonds, which are all agreed upon when issued, most of that "250 billion" is long-term debt, of 10-25 years. Short-term ECB rate changes can't affect it, and it's not financially prudent to pay it off early.

zell12

On 30/09, Leo says:

That’s why there’ll be one-off measures in the Budget which will be in people’s pockets before Christmas. And there’ll be a whole set of measures announced in the Budget that will kick in in January: pension increases, welfare increases, a further increase to the minimum wage and income tax reductions which will help working people in particular to pay the bill essentially in January, February. Varadkar said there will also be measures to help households with energy costs.

thomas 123

A reduction in USC coming and some energy credits: https://www.rte.ie/news/2023/1001/1408370-credits-budget/

Also mentioned is a delay in implementing the fuel excise due to kick in end of October - but how is fuel going up so much in the meantime?

Dempo1

https://www.boards.ie/discussion/comment/121183587#Comment_121183587

I see elsewhere a possible €10 increase in "Some" welfare payments, there'll likely be no one off lump sum cost of living payments, despite inflation rising again last month & the Cost of Living Crisis worse now than it was a year ago.

The Squeezed middle will be terribly excited at a 0.5 % decrease in USC

https://www.independent.ie/irish-news/budget-2024-squeezed-middle-families-set-to-be-biggest-winners-next-week/a648978584.html

Cherry Blossom

There will be some one off measures, but not as big as last year, I took ‘one off measures to mean lump sum payments.

https://www.thejournal.ie/taoiseach-defends-budget-plan-6183335-Sep2023/

Geuze

https://www.boards.ie/discussion/comment/121153855#Comment_121153855

Bonds mature each year, and must be replaced, so over time the higher interest rates will have an impact.

We borrowed 7bn so far this year, at rates mostly between 3% and 3.5%:

Dempo1

https://www.independent.ie/irish-news/double-fuel-allowance-payment-and-12-weekly-increase-to-social-welfare-rates-as-budget-2023-negotiations-continue/a1533198357.html

This morning

Nigzcurran

Anything at all on help with people getting screwed over by 9% rates by vulture funds?

Dempo1

https://www.boards.ie/discussion/comment/121187446#Comment_121187446

There's been Chatter about something like a temporary mortgage interest relief for those on the Highest rates & at risk of loosing their homes.

I don't believe it will happen as it would be very difficult to administer. I could be wrong

hawthorne

https://www.boards.ie/discussion/comment/121186951#Comment_121186951

Indeed- there is no way out. We might be ok just right now- but there are dark clouds down the road. And nobody wants to know.

thomas 123

https://www.rte.ie/news/ireland/2023/1006/1409376-budget-politics/

"He said he was anxious that the Budget would be fair in the first instance and that lower paid workers in particular would benefit from the taxation measures."

So either the middle is now the lower paid or we are having another social welfare bonus budget paid for by the middle.

Yikes.

TooTired123

https://www.boards.ie/discussion/comment/121201901#Comment_121201901

It’s the latter. No one in the middle ever objects or revolts or makes any representation pre budget to the government so they can safely assume that the middle are content to keep paying for all the foolishly misspent vote catching measures, and will be content to pay even more when the whole circus goes BANG!

Gusser09

https://www.boards.ie/discussion/comment/121183952#Comment_121183952

Its important for carers that they increase the disregard rather than raising the weekly payment.

Govt will try to say how great they are but weekly rises are feck all use to the disabled and carers when it'll be taken off them if their partner gets a 20 a week payrise.

Gusser09

https://www.boards.ie/discussion/comment/121187995#Comment_121187995

Id welcome a downturn.

We are losing the run of ourselves all over again. You'd assume though this downturn will make the last one look like a blip.

Anyone carrying mortgage arrears from the last crash will suffer hugely.

We are due a bust.

Dempo1

https://www.boards.ie/discussion/comment/121210796#Comment_121210796

I'm actually Surpised there's not been a crash. The talk of full employment belies the fact a number of sectors continue to struggle, especially hospitality & small retail. Enormous warehoused pandemic debts remained unpaid. There's also a looming crisis in the commercial property sector with vacancy rates at an all time high.

The mortgage arrears situation had improved until interest rates started to rise, those with mortgages purchased by vulture funds now paying rates as high as 9% even first time buyers & those who came off fixed rates being hammered.

As it happens I'm in negotiations to clear my relatively small mortgage with a Vulture Fund. I had a meeting with MABS recently and they are swamped, they are dealing with an avalanche of issues ranging from Utility Bills arrears, Mortgage arrears & personal loan defaults. I also know people in the Credit Union sector and loan defaults, worryingly high.

I'm just amazed how working families are coping with this current cost of living crisis which has affected everyone. As for those on SW or fixed low incomes, (I'm now on DA) are coping with derisory €12 per week rises, Its impossible to understand, a weekly food shop for a single person is up at least €20 per week & we know energy bills staggeringly high.

I'm not expecting much from the Budget.

Dempo1

Pretty much what was predicted. Not sure what the Disability Support Grant means 🤔 I presume a one off payment.

There's an additional SW Payment in January also

Gusser09

A criminal budget. Carers once again ignored all over the country although they are saving the govt. 20 billion per year. Lumped in with dole scroungers and given 12 poxy euro a week.

An increase in the disregard for the means test was needed but yet again they are given the two fingers.

Many carers in the country not recognised at all. " You can earn up to 38k per year net before the carers allowance weekly rate is cut". Miserable fuckers. 38k is nothing.

SourSessions

Seems to essentially mean a once-off grant for those on disability, invalidity etc payments

Gusser09

https://www.boards.ie/discussion/comment/121218740#Comment_121218740

Yes. That's the worrying trend being set over the course of the last two budgets. A race tot he bottom in my opinion. The disabled , carers and pensioners deserve more than this.

Dempo1

https://www.boards.ie/discussion/comment/121218738#Comment_121218738

Shocking, I was expecting something for Carer's

Gusser09

https://www.boards.ie/discussion/comment/121218812#Comment_121218812

The noises coming from Humphries after she met the carers representatives were positive for sure. Just goes to show you what she thinks of them too.

Dempo1

https://www.boards.ie/discussion/comment/121218831#Comment_121218831

Heather only shakes her magic tree when it suits

Cherry Blossom

Is the earnings from work disregard for DA not increased in line with minimum wage. Listening at work and it got noisy in the office. Not sure if I missed it or it isn’t happening.

Gusser09

https://www.boards.ie/discussion/comment/121218944#Comment_121218944

From what I can see earnings disregards haven't been increased for any of the payments.

Searching for the full text though so could be wrong.

Gusser09

I was wrong and fully take back what i said.

Tuesday, 10th October 2023: Family Carers Ireland is hopeful that the increase in the Carer’s Allowance income disregard, as confirmed in Budget 2024, will mark an important first step in overhauling a scheme that is outdated and no longer fit for purpose.

The announcement that the income disregard for a single person will rise from €350 to €450, and from €750 to €900 for a couple, will ensure that a large number of family carers, who were previously ineligible for Carer’s Allowance due to the means test, may now qualify for financial support.

Family Carers Ireland had called on the Government to use this budget to initiate a four-year journey, incrementally increasing the income disregard for Carer’s Allowance each year, with the ultimate goal of abolishing the means test and introducing a participation income for full-time family carers by 2027.

Family Carers Ireland welcomes the announcement of a €400 one-off payment to those in receipt of the non-means-tested Carer’s Support Grant. However, the organisation is keen to see this increase maintained and improved upon in the coming years, recognising its significance as financial support for family carers. This payment will also be extended to those receiving the Domiciliary Care Allowance, which will increase by €10 per week.

While a €12 increase in weekly social payments may provide some relief to those receiving Carer’s Allowance or Carer’s Benefit, it falls short of Family Carers Ireland’s call for both payments to be increased to €325. This increase would acknowledge the substantial and unavoidable expenses that caring families encounter.

Among the other measures confirmed are the payment of the Christmas bonus in December, a one-off double social welfare payment next January, a €100 increase in the Home Carer Tax Credit, a €200 rise in the Incapacitated Child Tax Credit, and funding for an additional 1,200 special needs assistants.

Reacting to today’s budget announcements, Catherine Cox, Head of Communication and Policy at Family Carers Ireland, commented:

"We are extremely pleased to see positive movement in terms of reforming the Carer’s Allowance scheme. The increase in the income disregard will mean that many family carers who were unfairly excluded from the scheme, often due to a partner’s income, may now receive some financial support from the State.

“While these budgetary measures are welcomed, they are steps along a longer journey. It is vital that we now build on this momentum in the years ahead to realise our ambition of abolishing the means test completely and introducing a participation income for full-time family carers that provides the financial support and recognition that they truly deserve.

“While there are positives from today’s announcement, respite and support services remain fragmented and inconsistent, making it even more challenging for family carers to access the help they desperately need. We urgently need a more cohesive and coordinated approach to respite and support services generally. This includes improved access, increased funding, and better integration with other healthcare services to ensure that family carers have access to respite when they need it.

“There is so much more to do to ensure family carers are adequately supported. The measures announced today appear to be a step in the right direction, but it is vital that much more is done to ensure that supports and services for family carers and their loved ones are improved upon into the future.

“We need to see far greater commitment to and investment in our care system for there to be any hope of it being fit for purpose.”

Cherry Blossom

I don’t see anything about Disability Allowance Earnings disregard.

Gusser09

https://www.boards.ie/discussion/comment/121219098#Comment_121219098

I can't see it either but I had to dig for the carers disregard.