With just hours to go until Budget 2024 is announced at Leinster House, Cabinet is meeting to rubberstamp the final details of the package.
This year’s package includes another major cut to childcare fees alongside social welfare increases and changes to USC and tax rates.
The package will be announced by Finance Minister Micheal McGrath and Public Expenditure Minister Paschal Donohoe at lunchtime today.
You can follow along live with Newstalk throughout the day – with Newstalk Business Editor Joe Lynam presenting a special 'Budget Live' programme from 12:50pm this afternoon.
You can also watch the announcement live on Newstalk.com and follow along with our special Live Blog.
Speaking on their way into Cabinet this morning, the three Government party leaders were all in upbeat mood about the announcement.
“I think it's going to be mainly good news.”
The Taoiseach says he has been involved in 13 budgets during his time in Government – and this is “probably the second biggest” he has seen in terms of the overall package.#Budget2024https://t.co/HQo0sVedta pic.twitter.com/ygSyBYcUSC
— NewstalkFM (@NewstalkFM) October 10, 2023
Taoiseach Leo Varadkar said the overall package is “probably the second biggest” he has seen in his time in Government.
“This is the 13th budget that I've done while in Government and I've been here for very tough budgets and I’ve been here for budgets that are more favourable,” he said.
“I suppose, of the maybe 13 that it would have been involved in, this is probably the second biggest in terms of the package that we're able to put forward to people.”
He said the package is smaller than last year’s because inflation is moderating.
“Notwithstanding that, prices are still high and rising and that's why there's a particular focus on the cost-of-living and making sure you have more money in your pocket and that the money that you have goes farther,” he said.
“I think it's a Budget that primarily will help people in terms of cost of living."
Tánaiste Micheál Martin said he is "looking forward" to hearing the details of the Budget announced in the Dáil this afternoon. #Budget24https://t.co/j1ybjzBcIV pic.twitter.com/rbf1ing3n6— NewstalkFM (@NewstalkFM) October 10, 2023
Tánaiste Micheál Martin said he was "looking forward" to the Budget and that it would help people struggling with impact of inflation.
“I think it's a budget that primarily will help people in terms of cost of living,” he said.
“We'll give tax relief to workers and also in addition to that, make sure that we can help households - particularly families - to deal with the ongoing situation in relation to inflation and price increases and that's something that the Budget does focus on.”
The Fianna Fáil leader also said housing had also been prioritised in negotiations.
“We're anxious to maintain momentum in housing to keep supply going and also to keep housing in the market and more houses in the rental market,” he said.
“[We also want to] give a break for renters… but of course we need to get house building up even more significantly for the future, both on social housing and on affordable housing.”
“It is a Green budget – this is a Green government.”
Eamon Ryan says Budget negotiations were ‘difficult’ but he is confident @greenparty_ie members will support the overall package.#Budget2024https://t.co/oRndCYdLBq pic.twitter.com/aq27KyvYB7
— NewstalkFM (@NewstalkFM) October 10, 2023
Meanwhile, Green Party leader Eamon Ryan said budget negotiations have been “difficult” in recent weeks – but he is confident his party members will support the overall package.
“I'm glad we got a budget through,” he said. “Well, we have to get it through the Dáil but through our own negotiation process – that was difficult.
“We were here until about 11pm Sunday night and about 7pm or 8pm last night, but you need that time to try and get a balance.”
He said the package aims to protect the economy and invest in the future, while avoiding anything that will trigger inflation.
He said he believes he has achieved a ‘Green budget”.
“It is a Green budget," he said. "This is a Green government.”
“Particularly that, looking to the future to put aside some of the money we have now in corporate tax profits and to invest it in the future for all our needs, I think that's a really strong signal of the strength of the Green Party in this Government.”
He said he is confident his party members will support the overall budget package.
“You have to compromise,” he said.
“You don't get everything your own way, you have to agree to measures that you wouldn't prefer but the balance is what's important and I'm confident our party will be supportive of the budget.”
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