Celebrating 20 Years of Excellence
Finance Minister Paschal Donohoe has unveiled the details of Budget 2026, including a surprise change to how derelict properties are taxed, a cut to the hospitality VAT rate, and an extension of the rent tax credit for another three years.
Unlike recent years, the €9.4 billion package is without once-offs like double child benefit payments and electricity credits. But there are extensions to reliefs for mortgage holders and renters as well as a cut in student fees. This year’s package doesn’t feature a ‘cost of living’ package nor is there a broad-strokes personal tax package.
The tax package has been pared back by €200 million to allow for more targeted spending in supports for the most vulnerable – meaning that €1.3 billion, not €1.5 billion, in taxation measures in this budget.
A contingency fund of €1 billion is being set up to respond to spending pressures, and to cover the costs of hosting the EU presidency next year.