Budget 2027 will not 'do everything for everybody', warns Taoiseach

The Fianna Fáil leader also dismissed the suggestion that Fine Gael leader Simon Harris was shooting down all his party’s budget ideas, as Mr Martin insisted that Fianna Fáil has not sought an increase in the Help to Buy tax relief.

Budget 2027 is now just over two weeks away and will be unveiled on October 6.

Speaking in New York, the Taoiseach refused to engage in Budget speculation but said that some groups will receive a boost.

“For the vast majority, we're certainly hoping that people will keep pace with inflation and maybe go above that,” he said.

“We did that last year with pensions, for example, the public service pay deal, the last one was ahead of inflation.

“But also, you know, we can't do everything for everybody in the budget, so we have to target our resources.

“In the area of childcare and in the area of disability, I would hope that certain sections of numbers of people would benefit far in excess of that because of the measures that we would take.” 

‘Better off’ will depend on individual circumstances

Mr Martin said the level to which people benefit will “depend very much on people's individual circumstances”.

He said that the Government is examining pensions and supports for those living alone.

When asked if everybody would be “better off” after the budget, Mr Martin said he was “not giving cast-iron guarantees”.

He continued: “We're under significant pressure internationally. We can't predict the way the global situation will go.”

Help to Buy tax relief

Elsewhere, Mr Martin rejected claims that Fianna Fáil has been seeking to have the Help to Buy tax relief increased.

It has been reported that housing minister James Browne has been seeking to increase the tax relief for first-time buyers purchasing new-build homes from €30,000 to €50,000.

Tánaiste Simon Harris, who is also the finance minister, is reported to be opposed to these plans.

When asked if Fine Gael was rejecting Fianna Fáil proposals, Mr Martin said his party had not “raised Help to Buy”.

“I haven't raised that at the meetings we've had at leadership level,” he said.

O'Brien acknowledges concerns about fuel costs

Energy minister Darragh O’Brien, who is in New York and Washington DC this week for climate and transport events, acknowledged that people are under pressure with energy bills. 

He said he wants to ensure that those at risk of fuel poverty are protected by the State.

However, he warned that any delays to carbon tax will impact his retrofitting budget.

He said the issue would be considered as part of the budget process and acknowledged concerns about fuel costs, particularly for households reliant on home heating oil and kerosene.

Mr O'Brien stressed that carbon tax revenue plays an important role in funding retrofit schemes. He added: “If it is decided by Government that there is a pause in a part of carbon tax, that revenue needs to be replaced with something else.”