The Budget 2027 has finally arrived, and with it a range of feelings, measures, and decisions being brought into the year ahead. It’s always a contentious and tense topic within the public eye. Many people across all demographics are far from pleased with the Budget, including students and young adults across the country. With the ‘Fund our Future’ protest having championed the core demands by students for the Budget and the future, the Budget does feel like a let-down in many regards. Likewise, the upcoming strikes will rock the country in a plethora of ways, as many are increasingly unhappy with pay levels, employment opportunities and the cost of living.
To put it simply, what is the Budget and what did this year’s Budget provide for the people of Ireland? To begin, the Budget is a €125.6 billion fiscal package which sets out the pathways for Government spending in the next financial year. In this year’s Budget, one of the first measures introduced was the raising of the cut-off point for the standard rate of tax by €2,500. This means that the higher rate of tax will now kick in at €46,500. The minimum wage is set to increase to €14.94 an hour. Fuel excise rates are to be extended until the end of February 2027, considering the cost of living, and will be gradually returned on a phased basis. Carbon Tax on home heating oil and gas is being reduced and will not increase within the current Government’s lifetime. The Help-to-Buy scheme has increased, with the maximum amount that first-time buyers can avail of being €35,000. This is according to the Department of Public Expenditure’s Report on the Budget measures.
The Minister for Finance has told the Dáil that €9 billion is being spent on building new homes, whilst Mr. Chambers stated that the shortage of housing is the “single greatest challenge facing young people and families today.” Turning to the student side of the Budget, it was announced that a whopping €150 euros will be taken off the Student Contribution Charge permanently. One student commented that they’ll “take what I can get,” as regards the fee cuts. Alongside this, there will be an increase of the SUSI maintenance grant rates by 4.5% from January 2027. That particular question is met with silence, as students and young adults are not considered or remembered within this Budget. The Aontas na Mac Léinn in Éirinn (AMLÉ), have welcomed the Budget measures, though it says they are “not enough” as “students feel like they’re being left behind.”
I spoke to some regarding the standard of expectation being below ground level, with one student expressing, “it’s more than I thought we’d get.” Is it fair that students are expecting less than what they got in the Budget? In terms of SUSI, it’s reported that the new measures will benefit over 150,000 students. However, there are an estimated 290,000 students in Ireland. Why is the Government only helping half the student population? It reverberates back in one student’s belief that “[The Government] are always procrastinating something.” As one student put it to me, “Our problems aren’t happening in 4 months.” They are certainly right; the problems of society are alive and biting right now.
