Budget 2025 will benefit working families and parents across Waterford the most, Fine Gael Senator and General Election Candidate John Cummins has said.
Senator Cummins said “this Budget seeks to put more money back in people’s pockets at a time when they need it most.This budget will deliver a series of targeted measures while also continuing the trend we have fought for in government which is to expand universal supports for all. It is also abudget that ensures we put money aside to protect our economy into the future”.
Money in your pocket
“As a government we have increased the point at which people pay the higher rate of tax from €42,000 to €44,000. We have also cut the USC by 1pc on incomes between €25,000 to €70,000.
“Consequently, a single person on an income of €50,000 per year will pay €859 less tax next year when compared to 2024.In addition, workers can now get up to €1,500 tax free from an employer in a voucher.”
Families, students and children
On the topic of families, students and children Senator Cummins said “Under the guidance of Taoiseach Simon Harris, this is a Budget that strongly delivers for families. Two double child benefit payments will be paid to every parent in the country before Christmas, free schoolbooks will be rolled out for senior cycle students, college fees will be reduced by €1,000, maternity, paternity and parental benefit will all increase by €15 a week and one I am particularly passionate about, the hot school meals programme will be extended to every primary school in the country”.
“We are also expanding the school transport scheme next year and giving two energy credits to help with the cost of heating your home this winter. In addition, there will be a baby boost of €460 for every child born after January 1st”.
Housing
“Housing remains one of the biggest issues facing the country and despite the significant progress being made in Waterford, we need to see the trajectory of those purchasing their first home continue to grow nationally”
Cummins continued: “The housing budget is being boosted by €3bn from the sale of AIB shares which will go to the Land Development Agency and upgrading water and energy infrastructure. This combined funding will lead to 6,400 new affordable and cost rental homes, including 2,000 homes under the First Home scheme. We’re also extending the Help to Buy until 2029 – offering €30,000 in support to first-time buyers. These are two schemes Sinn Fein would scrap”.
We are also increasing the stamp duty on the bulk purchasing of home by investors from 10% to 15% to protect homes for young purchasers, while the renters’ tax credit will rise to €1,000 per renter which is claimable for 2024 also. The Inheritance tax threshold will rise to €400,000 from €335,000”.
Pensioners & those with Disabilities
“Fine Gael is ensuring that those who need the most help get it. Every pensioner, carer and those with a disability will receive an increase of €12 per week. Lump sum payments will also be paid to targeted groups before Christmas, while changes to the fuel allowance will mean more people over 66 will qualify. An automatic companion pass is also being introduced for people aged over 70.
Carers & SNAs
On the topic of Carers and SNAs Senator Cummins said: “Our carers will rightly receive a significant package including an increase in the carer support grant. The rules are also changing to ensure more carers will qualify. Carer’s allowance will be extended to the self-employed and carers will now be eligible to apply for fuel allowance.
“We’ve invested in special needs education with 1,600 SNAs and 700 special needs teachers, complete with a significant capital investment to help build more special needs classes which is something I worked closely with Minister Naughton on.
Energy credits & Transport
“Despite energy costs reducing we understand that bills still remain stubbornly high, that is why we are introducing two energy credits worth a total of €250 before Christmas. Reduced costs for public transport will be extended for 12 months and free public transport is being introduced for children aged under 9.”
Law and Order
“This is the biggest budget ever secured by a Justice Minister. My party colleague Minister McEntee has approval to recruit an additional 1,000 gardai, 150 civilian staff and 350 new prison officers. An additional €7 million will be provided to organisations who support domestic, sexual and gender basedviolence, while further investment will be made in our courts system to make it more efficient and work faster for victims”.
Economic Outlook
In conclusion Senator Cummins said “Overall this is a really positive budget that was made possible through the prudent financial management of our economy by people like Minister Paschal Donohoe. At a time when countries across Europe are increasing taxes and cutting spending, we’ve been able to do the complete opposite while also putting money away to protect us from future shocks to our economy. We cannot take a healthy economy for granted and it must always bepreciously guarded. Fine Gael has always shown it can be trusted with the economy and that is why I believe it is essential that we form part of the next government whenever that maybe”.