Budget 2024: Energy credits of €400 per home set to form part of Budget – TheLiberal.ie – Our News, Your Views

Budget 2024: Energy credits of €400 per home set to form part of Budget

As the last meeting begins before the start of the 2024 budget, there are many indications that energy loans for households will cost more than 400 euros, reports RTE.

As the overall budget package takes shape, the final energy loan amount can be around €450.

Finance Minister Michael McGrath said many aspects of the budget had already been agreed.

The cost of living package will include significant financial and energy support for the people, he said, arriving for a meeting with coalition party leaders at Government House.

However, Public Expenditure Minister Paschal Donohoe stressed that the Budget will affect citizens by affecting the cost of living.

Negotiations are ongoing, but it appears that mortgage interest relief will be for homeowners hardest hit by the European Central Bank’s interest rate hike reports RTE.

Under this measure, mortgage holders could get a 20% rate increase, but this would be limited to a certain amount, possibly above €1,500.

The mortgage rate relief is described as “targeted” at people in financial difficulty.

Social benefits and pensions are likely to double in January. It was originally planned for October, but now it could be in January.

Double Christmas payments will continue to be made on current dates.

A potential increase of more than 12 euros is also expected in social benefits and pensions, but the increases may be introduced gradually, reports RTE.

Basic budget spending will increase by 5.2 billion euros.

The Ministry of Health, Children and Social Protection is still negotiating to finalize next year’s expenditure.

Tánaiste Michael Martin said a key focus was to protect people from the impact of the rising cost of living.


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