Adults expect no change in their finances post budget
With one week before the 2025 Budget, 24% of adults in Ireland expect to be worse off financially while 30% expect to be better off
Print27 September 2024
With the Budget approaching, there have been rumblings of how it will effect peoples’ fortunes. Even after suggestions by Government Ministers that adults in Ireland would be better off by as much as €1,000, nearly half (46%) of adults expect there to be no change after the budget announcement next week.
Of those expecting an increase in their finances, the average amount adults expect to be better off by is €534.15. Of those expecting a reduction in their finances, the average amount adults expect to be worse off by is €568.84.
Important concerns
A recent nationwide survey by iReach Insights showed that Increased tax credits or reduced VAT levels is the second most important concern followed by improved social protection package in parallel to ‘Tax breaks’ for those not in employment.
According to 1,000 respondents, improving the Health Sector is the top challenge that needs to be addressed in the upcoming Budget. 32% of respondents think the housing crisis will get worse in the year ahead with potential Budget 2025 changes. Of these 12% feel it will get much worse.
Budget 2025
32% of respondents think the housing crisis will get worse in the year ahead with potential Budget 2025 changes. Of these 12% feel it will get much worse.
43% think there will be no change in improvement. However, 26% think the housing crisis will improve with the Budget 2025 changes. Of these 2% think it will improve a lot.
More than 1 in 3 adults (40%) think the homelessness crisis will get worse in the year ahead with potential Budget 2025 changes. Of these 15% think it will get much worse.
41% think there will be no change in improvement. However, 19% of adults think the homelessness crisis will improve in the year ahead. Of these 3% think it will improve a lot.
Read more: Budget 2024: Some gains – and pains
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