{
  "id": 9916527,
  "title": "10 changes to watch for on Budget day",
  "url": "https://urgent.news/2026/09/26/10-changes-to-watch-for-on-budget-day",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-26T05:00:00.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/ireland/2026/0926/1593006-budget-analysis/"
  },
  "original_language": "en",
  "account": "As Budget 2027 approaches, several key changes are under scrutiny. Energy prices are the primary focus, driven by the Iran conflict and subsequent oil price surges. Home heating oil costs have risen sharply, from €900 per 1,000 litres last year to over €1,600 now. The Government is considering lowering the carbon tax on home heating oil but acknowledges it cannot fully shield consumers from global energy price increases. Diesel and petrol tax cuts, previously reduced by 32 and 27 cents respectively, are set to expire from November 1. The fuel allowance for social welfare recipients receiving means-tested benefits is also expected to increase.\n\nChildcare costs have been a political priority, with self-employed childminders earning up to €15,000 tax-free. This threshold may rise to €20,000, benefiting around 15,000 childminders who have enjoyed the relief since 2007. The National Childcare Scheme, aiding families with early learning and childcare costs, could receive additional funding. The higher tax rate threshold is likely to be raised, potentially to €46,000 from its current €44,000. This adjustment will benefit more earners falling into the 20% tax bracket.\n\nTax credits are expected to rise alongside the higher tax threshold. The tax credit for a single person, currently €2,000, and the additional credit for individuals in employment, also €2,000, may see an increase. The Low Pay Commission has recommended a 79 cent hourly increase in the minimum wage, from €14.15 to €14.94. While the Government has historically accepted these recommendations, it faces pressure from employers concerned about rising costs. The Small Firms Association argues that the minimum wage's 54% increase over the past decade does not reflect the 25% inflation rate from 2016 to 2026. The existing minimum wage rise might be lower than the Commission's recommendation.\n\nRegarding Universal Social Charge (USC), the point at which full-time workers start paying the 2% rate could be adjusted. This change aims to prevent the lower paid from being pushed into a higher USC rate. The new budget will include a financial incentives scheme for investments, offering tax-free returns up to a predetermined limit, with a 1% tax rate above that threshold. This is a significant improvement over existing savings accounts offering low interest rates. Retail investors can access these accounts from next summer, with no minimum contributions or early exit penalties, but a cap on the investable amount.\n\nSocial welfare beneficiaries, particularly tenants claiming €1,000 tax relief, could see an increased limit, possibly by €250 or €300. Additionally, there may be an increase to the rent-a-room scheme, allowing homeowners to let a room tax-free up to €14,000. Campaigns to eliminate the means test for the carers' allowance have gained momentum, and the Government is expected to make progress on this issue in the Budget. The Budget is also anticipated to introduce a €10 weekly increase in social welfare rates for various groups, including pensioners, disabled individuals, carers, jobseekers, and lone parents. Finally, the Government is expected to introduce renewable energy measures, including a €600 grant for energy storage batteries to harness solar power.",
  "summary": "With Budget 2027 less than two weeks away, RTÉ's Economics and Public Affairs Editor David Murphy details what changes people can watch out for ahead of 6 October.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}