Energy credits and Social Welfare 'lump sums' - what we know ahead of Budget 2025

Leitrim Live's Budget 2025 coverage is kindly brought to you by Higgins & Co Chartered Accountants

There will be good news for parents in Budget 2025 which is set to be announced on Tuesday, October 1, according to reports over the weekend.

The Cabinet is finalising the last details of the Budget which is expected to be somewhat of a "giveaway" with an election around the corner and the recent windfall of some €13b from the Apple tax judgment. 

Ministers Jack Chambers and Paschal Donohoe will deliver Budget 2025 in the Dáil at lunchtime on Tuesday with the plan for the country's finances over the next 12 months to be laid out.

Parents can expect two double child benefit payments over the coming months. The payment is currently paid at a rate of €140 per child per month. The two double payments of €280 each look likely to be paid before Christmas in November and December.

Social Welfare payments will also rise with double payments as usual before Christmas. The Government have also agreed lump sums to those on long-term disability payments as well as extra payments under the living alone allowance.

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The Cabinet has also agreed on €250 in energy credits, a feature of the last two budgets, and they are likely to be paid in two €125 installments, one before Christmas and one in the New Year. Public transport is also going to become free for children under nine years of age. Funding is likely to increase to the childcare sector but may not result in reduced costs for parents. 

Minimum wage will increase by almost €1 (€0.80) while the USC will also be cut for workers. It's understood the point at which a worker enters the higher rate of income tax will also move up by €2,000. Student fees are also likely to reduce by a further €1,000 at least.