Budget 2020 in Ireland

Budget 2020 announcement day will be October 8th 2019.

For many years , prior to Budget 2014 , Budget Day in Ireland was usually held in the first week of December – just before the start of the Christmas Shopping season.
Since Budget 2014 – the date of the Irish Budget announcement has been in the early part of  October to fit in with EU budget dates and timetables.

Budget 2020  – it is generally expected to be positive again – with possible tax cuts and/or spending increases totalling about €700 million .

In mid June 2019 – Finance minister Paschal Donohoe said the budgetary package for Budget 2020 is €2.8 billion, with about €700 million available for possible tax cuts or new spending measures.

It is expected there will be some increases to social welfare – but it might not be a simple flat rate increase for everyone. Increases may be more targeted to those in need .
A Christmas Bonus cannot be guaranteed yet – but we expect it will be paid again in 2019.

In the Government Summer Economic Statement – it was stated that
The overarching objective of budgetary policy must be the protection of domestic living standards irrespective of the format that Brexit takes. Ultimately, this means a budget that ‘leans against the wind’ to firstly, avoid overheating the economy and,secondly, to build up appropriate buffers so that budgetary policy can support the economy in the event of a disorderly exit .”

The National Economic Dialogue will take place in Dublin Castle on 26-27th June 2019.

This is an important part of the 2020 budget process and will be an opportunity to consider how to optimise available resources in the interests of all citizens. . The dialogue is not intended to produce specific budget proposals or recommendations. Representatives of community, voluntary and environmental groups as well as business, unions, research institutes and the academic community will be invited .

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