SUPPORTING YOUNG PEOPLE BY REDUCING THE COST OF LIVING  - Erin McGreehan

SUPPORTING YOUNG PEOPLE BY REDUCING THE COST OF LIVING 

Fianna Fáil in government has introduced and enhanced a range of supports for young people across housing, healthcare, transport and education to help to reduce the cost of living. We remain committed to supporting young people as one of our key priorities for this government. 

Renters 

  • The rent tax credit increased to €750 per year per renter from this year. This credit can also be claimed by parents paying for students in a tenancy registered with the RTB, or in digs. 
  • Renters may also claim retrospectively for 2022 and 2023 at a value of €500 tax credit for these years. 
  • Young people can also benefit from the rent supplement to help those living in private rented accommodation. 

Young workers 

  • The National Minimum Wage was increased to €12.70 from January this year. 
  • Autoenrollment will commence this year for a pension top up for those aged 23-60 years who are not in an occupational pension and earn over €20,000. The annual contribution for a worker and employer will start at 1.5% and rise in steps of 1.5% every three years to reach 6% by year 10. The State will add €1 for every €3 saved by the worker. 

Accessing Healthcare 

  • The introduction of free contraception for women aged between 17-35, offering savings up to €500 per year. 
  • Free GP visit cards are available to half a million newly eligible people this year – a monumental step towards providing free GP care. 
  • VAT is now eliminated on all period products. 

Transport 

  • The 50% discount for transport fees for those with the ‘Young Adult Card’ has been extended for two more years and will now benefit 19- to 25-year-olds up to their 26th birthday for all Dublin Bus, Iarnród Éireann, Bus Éireann, Luas, Go-Ahead Ireland and TFI Local Link. 
  • Those possessing a Young Adult Card, or a Student Card can travel around Dublin for €1 on the TFI 90-minute fare, or €0.75 for short fares. 

Those attending third level 

  • The Student Contribution Fee is reduced by €1,000 for students who qualify for the free fees initiative. 
  • When taken together with the new €500 student contribution grant, the student contribution fee will be halved to €1,500 for eligible families with a household income of between €62,000 and €100,000. 
  • From September 2024, the Student Contribution fee is abolished for all incomes under €55,924. This includes students on specified part-time undergraduate and part-time online course. 
  • The Postgraduate Fee Contribution Grant is increased from €4,000 to €5,000. 
  • There is a once-off reduction of 33% in the contribution fee for apprentices in higher education. 
  • Maintenance Grant rates increased by €615 for all non-adjacent rates, and adjacent rates increased by 10%, and from September 2024 part-time and online students will be eligible. 
  • Child Benefit is extended to anyone who is 18 and in full-time education, or who has a disability, up until their 19th birthday. 

 Supporting young farmers 

  • The complementary income support for young farmers which now provides an improved payment rate of €175 per hectare up to a maximum of 50 hectares for 5 years. 
  • The young farmers’ capital investment scheme helps young farmers to upgrade their agricultural buildings and equipment that are associated with the establishment of their enterprises. 
  • An increase in the maximum aggregate lifetime limit of a number of farm-related reliefs to €100,000, which is the maximum allowable under the new EU Agricultural Block Exemption Regulation (ABER). These reliefs include the Young Trained Farmers Stamp Duty Relief, Stock Relief for Young Trained Farmers, and the Relief for Succession Farm Partnerships. The maximum amount of enhanced stock relief for farmers who are partners in a Registered Farm Partnership will be increased from €15,000 to €20,000 in line with EU regulations. 

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