Budget 2027 will provide unprecedented funding to deliver the homes we need in Waterford and nationwide

Minister of State for Planning & Local Government, John Cummins TD says that Budget 2027 will provide an unprecedented level of funding to deliver homes across the country.

Budget 2027 will provide a significant income tax package, reduce childcare costs for working parents and provide supports for vulnerable cohorts such as pensioners, carers and those with a disability. It will also provide infrastructure funding to unlock the delivery of homes, while providing record funding of €7.7 billion for the delivery of the social and starter home programme.

As part of the measures announced by Government, the maximum relief available via the Help to Buy Scheme has been increased from €30,000 to €35,000 for first-time buyers.

A derelict property tax, to be collected by Revenue - will be set at a rate of 7% as part of efforts to tackle vacancy and dereliction, while increased finance and additional borrowing capacity of €200 million will be provided from Minister Cummins’ Department to local authorities.

Over €1billion has been allocated to support the delivery of 15,000 new starter homes nationwide and over €750million has also been ringfenced for adaptation and retrofitting to address specific housing needs. Currently 4 Starter Home Purchase schemes are open for applicants in Waterford.

Speaking on these measures, Minister Cummins said: “The Department of Housing, Local Government & Heritage has been allocated a record €11.92billion as part of Budget 2027 and that funding is going to make a tangible difference, building upon the progress that has already been made, and that we as a Government are determined to further improve. The upward trajectory of planning permissions, commencements and completions are all positive and Budget 2027 will help us to maintain this momentum.”

“Measures such as Help to Buy – a scheme that Sinn Fein and all opposition parties want to abolish – have already supported over 60,000 people in purchasing their first home, including 1,904 home purchases/builds in Waterford. Rather than take the rug out from under first time buyers, this government will continue to support people in getting their foot on the property ladder”.

A total allocation of €119 million is being provided for Planning in 2027, comprising €74 million in current expenditure and €45 million in capital expenditure which will support the recruitment of additional staff in both An Coimisiún Pleanála and Local Authorities.

Minister Cummins said: “A planning system that has the resources, expertise and capacity to make good decisions efficiently is essential to delivering homes and infrastructure across the county”.

On the local government side, a total allocation of €894 million is being provided in 2027, comprising €825 million in current expenditure and €69 million in capital expenditure.

Minister Cummins added: “Local authorities are at the heart of delivering for communities, from housing and infrastructure to the essential services people rely on every day. Today’s Budget gives councils both greater resources and greater financial flexibility.

“Increasing the Exchequer contribution to the Local Government fund to €755 million will help councils meet their responsibilities, while increasing the borrowing capacity available to local authorities by €200 million a year will give those with the capacity to do so greater scope to invest. This is about giving local authorities the tools to invest responsibly, unlock capital and deliver projects that will make a real difference in communities across the country.”