Minister for Finance Jack Chambers says energy credit will be included in budget 2025

Minister for Finance Jack Chambers has said there will be an energy credit in the upcoming budget and the credit will form part of the cost-of-living package.

Minister Chambers said that the average worker will benefit by €1,000 in the budget with tax amendments and the cost-of-living package.

He acknowledged that people are still feeling pressure, but said that he does "not expect the cost-of-living package to be the same scale as last year" due to inflation moderating. 

He did add that support for energy bills are still needed, saying: "I think energy credits can play a really important role to protect people and families through the winter period. And I think that will be a component of our cost-of-living package."

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The Finance Minister said that the budget will also include a substantial income tax package and USC is expected to be cut as part of this. He said that these cuts will be targeted at low and middle income earners. 

According to the Minister, many aspects of the budget have been agreed but a number of items still need to be agreed upon with party leaders.

Chambers said that he wanted to ensure that decisions made on the budget can be sustained over the medium-to-long term so that long-term risks to the economy can be protected while further investment in housing, health and education can be made.

Appearing on Morning Ireland this morning, Tánaiste Micheál Martin agreed that although inflation has come down, prices are still at an all time high and the "cost-of-living is still very much in our minds."