Suman Tiwari, Ireland *Dublin, October 7* Ireland announced Budget 2027 on Tuesday, unveiling an €8.65 billion package of additional spending and tax measures aimed at easing living costs and improving public services.
Finance Minister Simon Harris and Public Expenditure Minister Jack Chambers presented measures covering income tax, housing, childcare and social welfare.
The annual income level above which single taxpayers pay the higher 40 per cent income tax rate will rise by €2,500 to €46,500. The higher rate applies only to income above this limit. Similar increases were announced for married couples and civil partners. The main personal, employee and earned-income tax credits, which reduce tax bills, will each increase by €125.
For eligible renters, the Rent Tax Credit will rise to €1,150 for single claimants and €2,300 for couples. The maximum Help to Buy refund for qualifying first-time home buyers will increase to €35,000 with immediate effect.
Reduced taxes on petrol and diesel will remain in place until February 28, 2027, before being gradually restored. Lower carbon tax rates on home heating oil and natural gas were also announced.
The government said the measures would support households facing higher living costs while allowing continued investment in public services and infrastructure. Ministers also acknowledged the risks associated with Ireland’s reliance on corporate tax revenues from a relatively small number of multinational companies.
