Childcare costs to be cut by at least €1,000 in Budget

The cost of full-time childcare for young children looks set to be cut by at least €1,000 annually per child in the Budget tomorrow.

Discussions on the final Budget measures will continue throughout the day.

Childcare is seen as a central plank of Budget 2027.

The matter was discussed at length during the weekend, but the exact figures must be nailed down today.

But it is clear at this point that for those in childcare for 45 hours a week, the changes will result in a cost cut for parents of at least €1,000 annually.

This will be achieved through changes to the €96.30 weekly subsidy as well as lowering the current maximum €280 per week charge for childcare.

The new rates are set to be introduced next September, and they will apply to children up to Senior Infants class.

More funding will also be available to increase the wages of those working in the early years childcare sector.

However, the prospect of a further reduction to the student contribution fee is looking increasingly remote, even if the issue remains under consideration.

The Government leaders will today discuss tax changes to reduce the cost of energy as well as finalising an overall income tax package.