What does Budget 2024 mean for consumers? - Newstalk
The Budget 2024 has been announced, and with it plenty of major talking points.
Daragh Cassidy, Head of Communications at bonkers.ie, appeared on Newstalk to discuss the latest spending announcements, and what it could mean for everyone's pocket.
Listen to the interview above or look at the main points discussed below.
Main points from the interview:
- Energy bills will still be over double what they were 18 months ago, so the €450 credits will be a major relief to households.
- The VAT rate for energy remaining at 9% is also a positive development, as if it was returned to 13.5%, it could have added around €150 to household bills.
- The new standard income tax rate cut off at €42,000 is still around 15% lower than the average wage in the State, so could have been higher. For example, the higher rate tax band begins at just over £50,000 in the UK.
- The increase in carbon tax will add to the cost of fuel at the pump, while it could also add around €20 to the average gas bill.
- The two new funds announced, the Future Ireland Fund and the Infrastructure, Climate and Nature Fund, are welcome, and will help deal with the climate and pension challenges that will be faced in the future.
For more information, read our 2024 Budget breakdown.
You can read more about the cost of living and the latest developments in the world of personal finance in our blog.
Additionally, check out our guides which seek to answer and advise you on all of our product offerings.
We're all about saving you money here at bonkers.ie so if the Budget didn't quite do it for your personal finances, remember that you could save HUNDREDS of euro on your household bills right now by switching with bonkers.ie!