An €8.3bn Budget unveiled by the Government will put the country on a "firm footing for the future", the Minister for Finance has said.
Outlining details of next year's Budget, Jack Chambers said it will put in place the policies and measures to continue the country's positive trajectory, and ensure that everyone sees a promising and hopeful future in Ireland.
Among the measures outlined were a €2,000 increase in the standard rate tax cut off point to €44,000, with proportionate increases for married couples and civil partners.
Mr Chambers also said that the USC rate of 4% will be reduced to 3% - the second consecutive reduction to this rate.
The national minimum wage will increase by €0.80 per hour to €13.50 per hour.
To continue to ensure that these "valued" workers remain outside the higher rates of USC, the minister said he will be further increasing the entry threshold to the new 3% rate by €1,622 to €27,382, in line with the increase to the national minimum wage.
"This means that a full time worker on the minimum wage will see an increase in their net take home pay of approximately €1,424 on an annual basis," he said.
"As a result of the cumulative increases to the main tax credits, a single person earning €20,000 or less in 2025 will now be outside of the income tax net," he added.
Mr Chambers said it was "imperative" that the revenue from the recent Apple tax judgment is not used for day-to-day expenditure or to narrow the tax base.
He said there should be a clear strategic direction in how it can be used to deliver for the future of the country, improving the lives of people and communities and supporting SMEs and multinational corporations.
"It is this Government's view that we should utilise these revenues to address the known challenges that we face in housing, energy, water and transport infrastructure," he stated.
He also said the recent disposal of part of the State's shareholding in AIB has presented the Government with an immediate opportunity to allocate additional funding towards capital spending over the coming years.
He said he was making available €3 billion for infrastructure spending, which he said will help build on current progress, eliminating key infrastructural bottlenecks more rapidly, and help lay the foundations for further improvements in living standards and competitiveness.
Mr Chambers said that it is the Government's priority is to continue to accelerate the supply of new homes.
To support this, a further allocation of €1.25bn will be made available to the Land Development Agency.
This will bring the total amount of funding now available to the Agency to €6.25bn to deliver thousands of more affordable homes.
Among the measures included is a so-called 'Universal Companion Pass', which will see tens of thousands of pensioners aged 70 and over soon be able to bring a family member or friend on public transport for free.
Currently, people over 70 can apply for a companion pass provided they satisfy a medical assessment.
However, Ms Humphreys secured agreement to make the pass universal.
Sources say the move is designed to tackle issues such as isolation and loneliness and keep older people active.
Budget 2025 contains a record €2.7bn social protection package, including a €12 a week increase on core social welfare payments and ten lump sum payments.
For parents, there is a double child benefit in both November and December and, from January, a 'baby boost' special one-off payment of €420 for newborns.
New parents will also see a €15 weekly increase in maternity, paternity and parents' benefits.
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The Help to Buy scheme will be extended to the end of 2029, which Minister Chambers said will give certainty to future home buyers and the market.
The value of te rent tax credit will also increase by €250, bringing it to €1,000 and €2,000 for a jointly-assessed couple for 2025.
Something the coalition will not do, however, is lower the VAT rates for the hospitality sector, despite significant efforts by Minister for Enterprise Peter Burke.
His business package does include a €4,000 flat rate payment to retail and hospitality businesses, with a rates bill of less than €30,000. The VAT threshold also goes up.
Reacting to the VAT rate for the hospitality sector remaining at 13.5%, Adrian Cummins of the Restaurants Association of Ireland said on social media: "Hundreds of food-led businesses now at risk of closing."
On one-off measures, there will be two energy credits worth €125 each for all households. One will be paid before the end of the year and one after.
Meanwhile, the Labour Party's Spokesperson on Finance Ged Nash called for a general election now, saying that "Ireland of 2024 is a country of winners and losers".
