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Key elements of Budget 2025 as Government prepares for an election

The 2025 Budget, rolled out on October 1st by Minister for Finance Jack Chambers and Minister for Expenditure Paschal Donohoe, saw key changes in housing, education and income tax.

For the second year in a row, third level students will see a contribution grant decrease of €1,000, meaning the total contribution for the year is now a maximum of €2,000. In addition to this, SUSI has become more accessible to students as the maximum allowed household income to obtain the grant has increased.

The national minimum wage has increased by 80c, bringing it to €13.50 per hour for those aged 20 and above. This brings 19-year-olds minimum wage to €12.15 per hour and 18-year-olds minimum wage to €10.80 per hour.

A significant portion of the budget was allocated to housing, with Chambers extending the help to buy scheme to the end of 2029 “to give further certainty to future home buyers,” he explained in the Dáil. 

Photo: Minister for Finance Jack Chambers announcing Budget 2025. Dáil Éireann.

The first lump sum cost of living payment is expected to arrive on the 28th of October. Minister Chambers announced that the €2.2bn cost of living package is expected to include an extra €200 for those receiving the living alone allowance, €250 energy credit for all households, and the 9% reduction in VAT rate on gas and electricity is to be extended until 30 April 2025.

Many citizens disagreed with the allocation of funds of the Budget. Some users took to

Smithfield resident, Anna Caldwell, says the 2025 Budget will not be helpful to her: “As someone with no partner or kids, this Budget won’t help me financially at all. It’s quite disappointing actually.”