Budget 2024 | Michael McGrath announces two new funds and minimum wage increase

In his opening statements, Minister McGrath announced two news funds: The Future Ireland Fund and the Infrastructure, Climate and Nature Fund.

"Today I am announcing two new funds. The Future Ireland Fund, with a potential to grow to over €100 billion by the middle of the next decade. It will help to protect living standards and public services for current and future generations."

“Separately €14 billion will be put aside in the Infrastructure Climate and Nature Fund by 2030.”

Minister McGrath has announced the following:

The introduction of a €1.40 increase in the national minimum wage, bringing it to €12.70 an hour.

"A full time worker on minimum wage will see an increase of approximately €2,300 on an annual basis."

The 4.5% USC rate is set to be reduced to 4pc, the first reduction in five years.

PAYE tax credits and other related credits will increase by €100.

The entry point for the higher 40% rate of tax will rise by €2,000 to €42,000

[noelmurphy]

This goverment has to go shame on them done noting for my children to get a house of any sort of house in the future same old sh.. every year

[joeyob]

This guy blaming cost of living on inflation 😂 who’s responsible for inflation? Get rid of the “temporary” USC tax, rolling in cash from corporate tax and yet still highest tax rate in Europe for employees. Low incentive to work here, high earners are better off leaving, low earners are better off on social welfare. My man needs an economics 101 class, it’s not your job to use public money to pay for people’s mortgages, that’s the banks problem

[chrstopherbrown]

If all these thousands of Ukrainians and refugees come in and are getting all these new builds.what about all the homeless and irish waiting on council list for years.nobody should get a house till all the irish are housed first.goverment say how great ireland is.get him to go into dublin city.only irish sleeping on street.full employment my hole.