Budget 2025

No its not as we are talking about an additional 50k in pay in Dublin.

If you take the averages of costs between the 2 cities

Monthly net income after tax for someone on 50k is about 3237 a month for someone on 100k is 5304 amonth. So before any other cost a person earning that additional 50k in Dublin (or anywhere else for that matter) is only up by 2067 a month or 24k a year.

Take average accommodation (both rental and mortgages I have the links below as to where I got these figures) as we all need to live and the amount differential drops to to 1329 a month so about 15k. When you put in the 12% cost of living differential (this is without accommodation) living in Dublin as apposed to Cork this drops to 1169 a month. So without kids your 50k works out at about 14k extra for that person a year. Throw in things then likes kids, creche/child minders, insurance and property tax and this differential goes down further.

AFTER TAX CALC

https://services.deloitte.ie/

Average house price in Cork is 354307, in Dublin its 463265 meaning a person living in Dublin has to pay back 108958 extra for a house. The current average term left to pay a mortgage is 15 years with them starting at 29 years on average at an average rate of 4.19% lets leave that at 4%.

So that 108956 after 15 years of payment works out at an additional 800 Euro a month for the lad in Dublin. Rent in Dublin vs Cork is about 450 more to taking the average of the 2. In Dublin they are paying about 675 a month extra for accommodation.

According to numero then Dublin is about 12% higher than Cork that excludes accommodation. If you add in a kid or with creche fess it becomes even less.

IRISH PROPERTY PRICES (Dublin vs Cork)

https://her.ie/life/average-house-in-ireland-costs-new-report-618391

AVERAGE MORTGAGE TERMS LEFT TO PAY

https://moneysherpa.ie/mortgage-statistics-housing-statistics-ireland/

AVERAGE MORTGAGE FULL REPAYMENT PERIOD

https://www.statista.com/statistics/1415491/average-first-time-buyer-loan-term-ireland/#:~:text=In%202017%2C%20the%20average%20loan,subsequent%20borrowers%20was%20notably%20shorter.

RENT IN CORK AND DUBLIN

https://www.irishexaminer.com/news/arid-41462815.html

So long story short the additional 50k in Dublin is not equivalent to 50k in Cork.

 Its a decrease in welfare* rates which is needed as an incentive to go out and get a job. I really don't get the mentality ??

Cutting dole at a time of economic prosperity is a big no-no with Irish voters. The small minority who would favour such a move, FG reckon are already in their corner anyway…

Looks like the 40% tax band will widen to 44k, but that is still very low. Its equal to 60k in the north, where the cost of everything is cheaper.

We have the USC, a very low personal tax allowance and a very low entry point for 40% income tax.

Anyone earning an average salary or above is hit from all angles.

What income bracket are you thinking are the 'avoiding tax' bracket? The top 1%? You probably need 130 just to get started on top 1%.

I don't think the 100k earner dislikes USC because they can't avoid it. I think they dislike because they are genuinely getting hit too hard by it.

Thou talketh too mucheth sense

The. scale down income tax. Its all tax at the end of the day.

I understsnd some may avoid USC, but do we think all self employed folks are paying their due level of income tax and PRSI?

I have to commend you on such a detailed post but.…

All your calculations are based around property. Why? I never specifically mentioned rent or mortgages. You're gone of on a desperate tear altogether to justify how €50k is different between Cork and Dublin based solely on rent and house prices.

In relation to your comment about the average of costs between the two cities.

Is a week's shopping dearer in Dublin?

Is home heating oil dearer in Dublin?

Is petrol and diesel dearer in Dublin?

Is childcare dearer in Dublin?

Please don't tell me I'm missing the point. I understand your point but there's more to the "cost of living" than paying a mortgage or rent, hence the term living.

It's looking that way except for job seekers by the sounds of it

I think yes, those things would be dearer in Dublin especially childcare.

The entry point into the top decile of household incomes is 2035 per week, or 106k of disposable income.

See the 2022 data below, as published in the 2023 SILC.

The averages in the top decile is as follows:

163k wage income

263k total income

159k disposable income

JSB is moving to being income-related soon.

JSA = "dole" is 232 pw in 2024.

A LOT of money being spent, maybe too much.

But the opposition will want them to spend more..

Yep, very fair point. I could see how this could potentially lead to some social issues further down the road……………

All in all, this budget is better than the budgets of 2009/2010/11 obviously so i'm not going to give out. As long as they are not taking away i'm not overly fussed too much.

I don't want anything significant back in my pocket, unless we strike unlimitless oil

Free HRT is a good one. Cheap to deliver all things considered and it's fair.