Budget 2024 won't bring back the multitudes who have left our shores

Housing measures, a cut in USC and public transport schemes are still not enough to tempt back the many who have fled the island to pastures new, writes David Kent

David Kent: "I turn 28 in March of next year. Marriage, a house, and children are completely off the table because I cannot financially afford to do so." Photo: Moya Nolan

They say it was much easier in the old days.

When my parents turned 28, they had married, had their first house, their first child and were about to fall pregnant with my older brother.

I turn 28 in March of next year. Marriage, a house, and children are completely off the table because I cannot financially afford to do so.

I had been renting up until September of 2022, just days before Paschal Donohoe got to his feet to deliver Budget 2023.

In that period, I’ve since moved back into the family home (as a €1,650 one-bedroomed flat in a Dublin suburb was just not viable anymore) and watched dozens of my close friends leave these shores, including that older brother that I mentioned.

Having taken stock of what Michael McGrath and Paschal Donohoe have told us on Tuesday, I can’t see much to bring them back.

Housing measures

While the help-to-buy scheme has been extended to 2025, and more money has been set aside to fund social housing and new builds, it still won't be easy to climb onto the property ladder for those not already on there as prices remain very high at a national level.

There is, of course, the concern that an extension of the scheme will cause second-hand homes to rise in price, but data from Daft.ie shows that they are increasing anyway, even if it is at a slower rate than this time last year.

David Kent: "The cost of living has become too much for a large majority of people, many of whom have fled the island to pastures new to try and set up a life which has quality there." Photo: Moya Nolan

For many, this is the key concern in the budget and it is hard to see if there is anything there that will change the picture for the would-be homeowners.

Decrease the USC 

It’s an obvious one that is put forward year after year, but the last 12 months has exacerbated the problems people are having with the USC.

The cost of living has become too much for a large majority of people, many of whom have fled the island to pastures new to try and set up a life which has quality there.

Those who have been left behind are being squeezed out of it by rising costs of groceries (higher in Ireland than any other EU nation) and energy bills (though companies have started to backtrack on disastrously timed price rises from 2021 and 2022.) 

David Kent in his parent's home. "It still won't be easy to climb onto the property ladder for those not already on there as prices remain very high at a national level." Photo: Moya Nolan

It is seven years since the Taoiseach said that his party would “abolish USC over the lifetime of the next Government”. A decrease from 4.5% to 4% isn't exactly abolition, but it may prove to be some welcome relief for those who see huge chunks of their pay packet lost before they even get to see it. 

The three Governmental parties are trying to get a boost ahead of the next general election. Opting to decrease the USC may result in the start of that boost — though only time will tell.

Public transport

The reduced fare scheme has been extended to incorporate 25-year-olds too. Too late for me, sadly, but a welcome boost for those who live close to good public transport links.

That is the crux, though: many of us simply don't and the country needs to see proper links in rural areas and between smaller urban centres.

Money is set aside for major infrastructure projects, like the Metrolink and the Cork Commuter Rail Network, but that will be of little use to someone miles from these connections.