If you need a handy reference document showing what the Budget 2024 covers, we’re happy to oblige.


  • The Universal Social Charge (USC) has been cut from 4.5% to 4%, the first reduction in USC rates in five years
  • The point at which workers pay the top rate of tax will rise to €42,000
  • The entry threshold to the 4% rate of USC will be raised to €25,760
  • The national minimum wage has been increased by €1.40 an hour to €12.70 an hour
  • Personal, Employee PAYE and earned income tax credits are being increased by €100 each
  • Pay Related Social Insurance (PRSI) contribution rates will increase 0.1% from 1 October next year
  • A new one-year Mortgage Interest Tax Relief for homeowners with an outstanding mortgage balance of between €80,000 and €500,000 from December 31 has been confirmed
  • The Help-to-Buy scheme is being extended to the end of 2025
  • The Rent Tax Credit will be increased from €500 a year to €750 a year
  • Parents who pay for their student children who have tenancies in ‘Rent a Room’ or ‘digs’ accommodation will now be able to claim the Rent Tax Credit

Cost of living supports:

  • The reduced VAT rate for gas and electricity will be extended for another 12 months, helping consumers to save an extra €90 for electricity and €62 for gas
  • All households will receive three energy credits of €150 each to help with bills over winter
  • A €300 lump sum payment will be made to recipients of the Fuel Allowance in the last quarter of this year

Social welfare:

  • Weekly social protection payments will increase by €12
  • The Qualified Child Increase will increase by €4 to €46 per week for under 12s and to €54 per week for over 12s
  • An additional €200 will be paid to those receiving the Living Alone Allowance
  • The Christmas Bonus to those in receipt of regular Social Protection payments will be paid in early December
  • A once-off double week “Cost of Living Support” payment to all qualifying Social Protection recipients will be paid in January
  • A special, once-off payment of €400 will be made before Christmas to those who receive the Carer’s Support Grant, Disability Allowance, Blind Pension, Invalidity Pension and Domiciliary Care Allowance
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