A Clare business says “the devil will be in the detail” when it comes to Budget 2027.
Senior coalition Ministers will meet this afternoon to finalise the details ahead of tomorrow’s announcement.
The broad scope of budget 2027 has taken shape with some fine tuning still needed this afternoon.
Taoiseach Micheál Martin, Tánaiste and Finance Minister Simon Harris, Public Expenditure Minister Jack Chambers and Independent Sean Canney are set to meet with Department of Finance officials from 2 o’clock.
Minister Norma Foley is pushing for further cuts to the cost of childcare beyond the roughly thousand euro a year saving for children up to senior infants already secured.
It will roughly cap the cost of childcare at 550 euro a month for those age cohorts.
The owner of Kidz Haven in Shannon, Noel Mulderrig, says cost reductions for families will be welcome, but it’s vital childcare providers aren’t left out of pocket.
Energy costs will also be a major focus, with the Government saying a temporary package of measures is being considered.
Cuts to fuel excise are expected to continue, and it’s also unlikely the planned increase in the carbon levy will go ahead.
Discussions have been had about the possibility of energy credits being added to the mix last minute, but it’s still unclear whether they’ll make it in.
Former ICSA General Secretary and Cratloe farmer Eddie Punch says the Government needs to go further on fuel costs, and that the issue also needs to be tackled at EU level.
The 1.5 billion euro tax package is yet to be fully agreed, with one source saying they were deciding how best to split it between income tax and other measures.
While Ministers are also keen to have something definitive to announce on housing for those seeking to get on the property ladder, but what shape that will take is yet to be decided.
Ennis Chamber is welcoming the indications ahead of the Budget.
It says lower fuel and childcare costs, along with changes to taxation, would put more money back into workers’ pockets, and what’s good for workers is ultimately good for business.
But its CEO, Margaret O’Brien, says the bigger picture also needs to be considered and that the Government needs to accelerate investment in infrastructure to ensure continued regional development.
A new fund for students who get pregnant during college is to be set up under Budget 2027.
It will allow Students’ Unions to help out women who find themselves in financial difficulty as a result of a pregnancy.
The overall SUSI maintenance grants will also increase by 4-point-5 per cent – worth up to 357 euro a year.
While parents with a combined income of less than 120-thousand euro who have more than one child at third level will get a 750 euro discount on the student contribution per child.
However, there will be no cut to the general student fees of 2-thousand-500 euro.
Money has been allocated in the budget to develop a scheme to give 16 year olds 100-euro culture gift cards.
The vouchers could be used for arts, live music, theatre, and cinema.
A spokesperson for Minister Patrick O’Donovan says the hope is to roll out the cards at the end of next year.
They intend to develop a list of places the card can be used and to offer it to both 16 and 17 year olds the following year.
Fuel supports for farmers and fishermen are to be extended in the budget.
It will come alongside an increase in TAMS funding for farm capital development.
A new fund is also being developed to support the fishing sector, given the impact of falling EU quotas.
Budget 2027 will be announced on Tuesday, and Clare FM have full coverage on the details as they’re announced on air and online.
Listen to the full interview here:
