Budget 2027: How Could It Impact Your Money?
7 October 2026
Key takeaways
- Families may see significant savings through lower childcare costs, enhanced childcare supports and tax changes.
- Workers should keep more of their income with a minimum wage increase and adjustments to income tax, USC and tax credits.
- Pensioners, carers and social welfare recipients will receive increased weekly supports, including higher pension, fuel and living alone payments.
- Renters could benefit from a higher Rent Tax Credit, while first-time buyers can access an increased Help to Buy refund.
If you're starting your career or earning close to minimum wage
If you're working part-time, starting your first job or earning the minimum wage, you'll benefit from the increase in the National Minimum Wage to €14.94 per hour.
Students and their families may also welcome the €150 reduction in student contribution fees, while higher SUSI maintenance grants could provide additional support during the academic year.
If you're a young professional and renting
Budget 2027 contains several measures aimed at helping working renters keep more of their income.
The Rent Tax Credit will increase to €1,150 for single renters and €2,300 for couples, while changes to income tax, USC and tax credits mean many employees should pay less tax on their earnings.
If you're saving for a first home, the Help to Buy Scheme has also been enhanced, increasing the maximum refund available from €30,000 to €35,000.
If you're raising a family
Families with young children could see some of the biggest savings.
The maximum monthly childcare fee is set to fall from €735 to €550 for eligible children up to senior infants, while increased National Childcare Scheme subsidies could deliver further savings.
Working parents may also benefit from higher tax credits, a wider standard-rate income tax band and increased Working Family Payment thresholds.
If you're retired or receiving social welfare supports
A range of supports have been announced for pensioners, carers and social welfare recipients.
Weekly social welfare payments, including the State Pension, will increase by €10 per week, while the Living Alone Allowance rises by €3 per week and the Fuel Allowance increases to €43 per week.
Additional supports have also been announced for carers and people living with disabilities.
Thinking About Your Financial Goals?
Whether you're saving for a home, managing family expenses or planning ahead for retirement, Budget 2027 may create opportunities to review your finances and make the most of your money.
Why not try An Post Money Manager? It's a free money management tool that helps you track spending, set budgets and manage your finances across your accounts.
Terms and Conditions apply.
Money Manager is provided by An Post in conjunction with Tink. Tink is a payment institution authorised by the Swedish Financial Supervisory Authority to provide account information services.
Turn payslip insights into better money management
Once you understand what's coming in each payday, the next step is understanding where your money goes. With the An Post Money Manager app, you can keep track of your spending, monitor your account activity and manage your money with greater confidence.