Taoiseach Micheál Martin: Budget 2027 to Emphasize Family Protection Amid Cost-of-Living Pressures

Taoiseach Micheál Martin stated that Budget 2027 will heavily emphasize protecting families from cost-of-living pressures. Speaking at Fianna Fáil’s Ard Fheis in Dublin, Martin clarified that economic growth and social progress are not mutually exclusive, but significant costs for families and children necessitate this focus.

He mentioned various mechanisms to reduce family pressures, noting that the last budget included significant, though underreported, increases in child support payments. Martin also addressed the Programme for Government's commitment to progressively reduce childcare costs to €200 per month per child. He explained that this is a five-year program, and while last year's budget was the first, childcare remains a key consideration due to its impact on families with young children.

Martin highlighted unexpected global events, like the war in Iran and the Straits of Hormuz blockade, which caused a 20% contraction in global energy supplies and necessitated recalibrating projections. He acknowledged housing as a major government issue, noting 177,000 new housing units since 2020, but stressed the need for 50,000-60,000 units annually for ten years to address a massively increased population, which includes 2.5 million more people than in 1926.

The Taoiseach emphasized increasing housing supply, aiming for 10,000 social houses annually to structurally address homelessness. He also noted progress for first-time buyers through schemes like Help to Buy and First Home, despite acknowledging that costs remain too high for many.