Violet-Anne Wynne
Question:117. Deputy Violet-Anne Wynne asked the Minister for Finance how the people of Clare will benefit from his Department’s allocations in Budget 2024; and if he will make a statement on the matter. [45773/23]
View answerWednesday, 18 October 2023
Questions (117)
Written answers
Budget 2024 provided for a total net Budget package of around €14 billion, consisting of a €6.4 billion core budgetary package of which c. €5.3 billion is allocated to public spending and c. €1.1 billion for taxation measures.
Complementing this is a set of once-off measures to assist households and businesses with the cost of living, amounting to €2.7 billion, (net of windfall revenues from the energy sector), which take effect from the final quarter of this year.
A full list of the taxation and expenditure measures introduced in Budget 2024 are set out in the Tax Policy Changes and Expenditure Report publications.
As the Deputy will appreciate, I am not in a position to provide detail on the benefits for any particular county in isolation. However, I would note that distributional analysis, shows that, overall, the impact of the measures in Budget 2024 is progressive. All income deciles and household types will benefit from the measures, however the lowest income deciles show the strongest gains.
In net terms, as a result of Budget 2024 households experience an average gain in weekly disposable income of 2.4 per cent from the tax and welfare measures, and an average gain of 1.9 per cent from one-off measures in the once-off Cost of Living package.