As a jobseeker looking to apply for jobs in Ireland in 2024/2025, the 2024 budget for Ireland reflects a somewhat cautiously optimistic outlook for the economy, with various fiscal measures aimed at supporting both households and businesses amid an easing inflationary environment. After experiencing a slight contraction in 2023, Ireland’s economy is projected to grow modestly by around 1.5% in 2024 and 3.7% in 2025. This growth is supported by an improving EU and global trade environment, a robust labour market, and decreasing inflation rates across Ireland and the EU. Needless to say, the jobs market will follow suit. There is also Modified Domestic Demand (MDD), a better indicator of domestic activity, is expected to grow by 2.3% in 2024.
Ireland’s Inflation, which spiked in 2023, is forecasted to drop significantly to around 1.9% in 2024, providing some relief to households after a period of rising costs. The easing inflation is largely attributed to a decline in energy prices and is expected to improve consumer sentiment and purchasing power. The budget surplus is anticipated to decrease slightly from 1.7% of GDP in 2023 to 1.3% in 2024, due to moderated revenue growth against a backdrop of sustained public expenditure. The government also plans to maintain support for public services and investments, which could help drive future growth.
For jobseekers and those looking for CV Writing Services in Dublin City and across Ireland, the budget includes measures to increase personal tax credits and adjust tax bands, which will reduce income tax for individuals by an estimated €600 for single taxpayers. This aims to alleviate the financial pressures faced by many households as living costs remain high. The budget also introduces an increase in the R&D tax credit from 25% to 30%, aimed at enhancing Ireland’s attractiveness as a destination for foreign direct investment (FDI). For those of us that are working hard to ensure the future of ourselves and those of our children, the Irish government’s 2024 budget focuses on fostering economic resilience while providing essential support to citizens and businesses during a period of recovery from inflationary pressures.
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