Tánaiste Simon Harris delivers his Budget 2027 speech

This episode features Ireland’s Minister for Finance presenting the 2026 Budget, which prioritizes economic resilience amid global energy and geopolitical uncertainty. Key measures include a €1.3 billion personal income tax package, a new tax-efficient investment account for everyday savers, and significant reductions in carbon taxes on home heating to alleviate cost-of-living pressures.

Topics discussed

Introduction and Budget 2027 presentation Shared growth and personal income tax priorities Energy volatility and geopolitical uncertainty Balancing current needs with future fiscal resilience Economic progress: employment, wages, and demand Public finances and fiscal surplus forecasts Investing in infrastructure and future-proofing Building resilience in a shock-prone world Progressive tax system and cost-of-living pressure Announcing €1.3bn personal income tax package Income tax and USC threshold changes Employer PRSI savings for low-income workers Workforce participation gaps Transition to capital acquisition tax Increases to capital acquisition tax thresholds Democratizing investment: new Irish investment account Role of state savings and deposit accounts Tax rules for the new investment account Exemptions and investment options within the account Launch date and broader investment regime reform Continuing work on retail investment taxation Structural changes and energy cost pressures Flexible government response to energy crisis Extraordinary measures for energy prices No tax increases at the pump this winter Extending reduced fuel excise rates HVO tax treatment and decarbonization resolve Energy transition and national security Energy affordability task force and car preferences VRT rate increases for polluting cars Sustainable aviation fuel consultation Childcare and early years education investment Childminder flexibility and third-level fee relief Housing construction spending Rental room tax relief for auxiliary dwellings Help to Buy scheme and credit increases Zoned land tax exemption opportunity Local authority capital investment and dereliction New derelict property tax details Heritage tax relief and charity support Support for rural pubs and small businesses Capital gains tax reduction for entrepreneurs Employer reporting changes and competitiveness ISAF €1bn investment programme for scaling firms Extension of enterprise tax incentives R&D tax credit improvements Knowledge Development Box extension Corporation tax rule amendments and OECD Pillar 2 Support for the agriculture sector Succession farm partnership tax changes VAT on livestock vaccines and flat rate addition Public service efficiency and technology National Life Sciences Strategy Bank levy extension Diversifying industrial base and clean energy Future Ireland Fund and navigating uncertainty Conclusion: building resilience and rewarding hard work

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Tánaiste Simon Harris delivers his Budget 2027 speech

Summary

Topics discussed