Budget 2027 Set to Ease Energy Burden and Support Childcare
The upcoming Budget 2027 is expected to bring significant changes for households and businesses. Energy will be at the forefront, as Minister for Public Expenditure Jack Chambers considers a lower rate of carbon tax on home heating oil to alleviate the financial burden of rising crude oil prices.
Currently, home heating oil costs around €1,600 for 1,000 litres, up from approximately €900 last year. To provide some relief, Minister Chambers has indicated that the tax cuts on diesel and petrol will be rolled over until early spring, as prices continue to soar above €2 at most service stations.
In addition to energy-related measures, the Budget is expected to address childcare costs. Self-employed childminders may see their earnings threshold increase from €15,000 to €20,000, benefiting around 15,000 individuals who currently take advantage of this tax relief.