Deloitte Chief Economist analyzes Budget 2027 tax changes and fuel rates

Deloitte Chief Economist Kate English analyzed Budget 2027, noting that the income tax package was larger than expected. The point at which a single person pays the higher 40% tax rate is increasing from €2,500 to €46,500, which would provide approximately €500 more in pocket for a single person earning €50,000. The temporary reduction to fuel excise rates will be extended until February next year.

The budget measures affect household finances, though the Chief Economist warned that budgets struggle to keep pace with current inflation running at 3.9%. The extension of fuel excise rate cuts provides temporary relief on running costs, but the Chief Economist noted that inflation pressures are often outside of governmental control.