Here is what your Waterford TDs had to say about Budget 2026
Budget 2026 was announced on Tuesday. Stock Image.
Budget 2026 is done and dusted for another year.
The new government (or the old one renewed) on Tuesday announced a €9.4 billion package for the coming year.
And while there were not many surprises, what was unveiled has left a sour taste in many people's mouths.
And the pockets of ordinary people are not much better off.
We reached out to Waterford’s four TDs to get their views on Budget 2026.
Here is what they had to say.
Minister Mary Butler said the budget was “prudent” but targeted in its support for those who needed them most.
She said one-off cost-of-living supports and welfare payments of previous years had served the purpose, but now the Government needed to transition to more sustainable and permanent measures.
“I am acutely aware of price level increases in recent years, and the impact inflation has had on businesses and households throughout the country.
“I value the feedback and insight I receive from people when I’m out and about at multiple events in Waterford each week. It is also important to acknowledge the ongoing need to address the underlying causes, within our domestic control, that are driving up prices.
“This year’s targeted measures focus on people earning less, who should rightly receive more,” said Minister Butler.
The minister outlined the measures introduced in this year’s budget that support households, which include:
- A €10 weekly increase in social welfare payments and a 100% Christmas bonus.
- Fuel Allowance increase of €5 per week.
- An expansion in the eligibility criteria for the Working Family Payment.
- An expansion in the eligibility criteria for Back to School Clothing and Footwear Allowance to include two and three-year-olds.
- There was an increase in the carer’s income disregard.
- An increase in the national minimum wage of 65c an hour to €14.15 and a corresponding adjustment to USC.
- The rent tax credit was extended to the end of 2028.
- The Mortgage Interest Tax Relief was extended for a further two years.
- The 9% VAT rate on electricity and gas was extended until the end of 2030 * There was an increase in school capitation grants to all schools.
- And a €500 permanent reduction in the third-level student contribution fee.
The Fianna Fáil Minister of State said the future in terms of tariffs and wars in Ukraine and the Middle East were uncertain.
Therefore, the budget is needed to focus on short-term security, “future proofing” and investment in infrastructure.
€8.1 billion of that package went into additional public spending and €1.3 billion into taxation measures.
“Ultimately, by prioritising infrastructure such as the provision of more homes, more schools, better disability services, road networks, the expansion of healthcare services, energy security and better public services, we are all better off in the long term,” said Minister Butler.
Minister of State for Planning and Local Government John Cummins highlighted the expected impact the budget would have on housing in Waterford.
The Waterford News and Star reached out to Minister Cummins to request a comment specifically on cost-of-living measures, but he had not responded at the time of publishing.
In a press release issued after the announcement of the budget, Minister Cummins said funding for renters, initiatives to tackle dereliction and the acceleration of affordable housing supply were the big wins for people in Waterford.
“This is a very significant Budget for the delivery of housing in this country. We are further protecting renters and targeting supporting apartment delivery as well as tackling dereliction in towns and cities across the country.
“I am really pleased that a number of areas of priority for me have received financial backing in the first Budget of this Government,” said Minister Cummins.
In particular, the minister highlighted:
- The €71 million for the planning sector and €699 miillion for local government.
- The extension of the rent tax credit until the end of 2028 * The extension of the Help to Buy Scheme for another five years.
- The extension of the mortgage interest relief.
- The introduction of a Derelict Property tax collected by Revenue to replace the Derelict Sites Levy, currently collected by the council.
- A VAT cut to 9% to help with the construction of apartments.
- The removal of the corporation tax on cost rental homes.
He said Waterford will also benefit from changes to the Living City Initiative, which supports the enhancement of older housing and commercial stock.
“This initiative has the potential to deliver even more in Waterford, and I am pleased it is being extended to the end of 2030. It will now apply to properties built in 1975 as opposed to 1015, bringing many more properties into the scope of the scheme.
“Significantly, there will be an introduction of a new category of tax relief for the conversion of commercial property into residential, including ‘over the shop’ premises, and there will be no building age restriction on these properties. The maximum amount of relief will increase by €100,000 to €300,000,” said Minister Cummins.
Sinn Féin TD for Waterford, David Cullinane, said this year's budget “completely abandoned workers and families to look after the people at the top.” The deputy said that one of the biggest tax packages ever had failed to make ordinary workers better off and instead supported landlords and developers.
“There is no action to end the rip-off as prices soar out of control.
“Sinn Féin called on the Government to instead scrap the USC for every worker on the first €40,000 people earn. That would put €746 back in people’s pockets.
“They could have delivered an energy credit of €450 at a time when many customers are facing double-digit increases.
“They could have increased renters' credit to between €1,250 and €2,500 and banned rent increases.
“They could have reduced the cost of childcare to €200 a month as they promised to do. But they decided not to do this.
“The Government has torn up their election promises on the first budget, showing that they never had any intention of delivering what they promised, said Deputy Cullinane.
Deputy Cullinane said Waterford loses out in the budget in terms of investment needed in the south east, as outlined by the South East Economic Development Monitor.
He said the government needed to invest in Waterford Port, harbours, roads and water infrastructure.
The deputy said affordable housing is key, but the budget falls far short of what is needed for ordinary households.
“There is little in this budget that gives me any confidence that Waterford will get the investment it needs,” said Deputy Cullinane.
Sinn Féin TD Conor D. McGuinness said the budget is a “betrayal of Waterford families, workers and communities.” He accused Fine Gael and Fianna Fáil of “looking after landlords and developers while ordinary people are left struggling with rising costs and no relief”.
He said that although the rent credit was kept, it wasn’t increased, while more support for landlords and developers was introduced.
Energy credits were not a feature of this year's budget, even though “families face massive electricity and childcare bills.” “This Budget completely fails Waterford families.
“It offers nothing to solve the housing crisis in Waterford city and county, nothing to bring down the cost of living, and nothing to deliver the public services people depend on. Rents are sky high, childcare costs are crushing families, and our health and disability services are at breaking point — yet the Government’s response is tax cuts for landlords and developers,” said Deputy McGuinness.
He said Sinn Féin would have:
- Scrapped the controversial USC, * Increased the rent credit to €2,500, * Banned rent increases * kept the energy credits.
- Invest more in affordable housing.
- Reduced childcare bills to €200 a month
- Cut energy bills.
- Expand healthcare capacity
- Extend medical cards to 110,000 more people.
The deputy criticised the government for not increasing the affordable housing targets and for not putting more funding into hospital overcrowding and women's health, in particular, endometriosis treatment.
In health, he said the 220 acute beds promised nationwide would mean it would take 14 years to reach the 3,000 target.
“Waterford families deserve better than another Fine Gael-Fianna Fáil budget that protects vested interests and leaves working people behind,” said Deputy McGuinness.
