Budget 2026 Revealed: Key Measures to Support Households

As discussions around the national finances progress, the outlines of Budget 2026 are becoming increasingly clear. Key measures announced on October 6, 2025, include the extension of mortgage interest relief for an additional year, which will benefit over 60,000 households. This relief is set to be phased out entirely by 2027.

Significant Financial Support for the Arts and Hospitality

In a notable move for the arts sector, a permanent extension to the basic income scheme for artists has been confirmed. This initiative aims to provide ongoing financial support to those in the creative industries, acknowledging the challenges they face in a changing economy.

Furthermore, the budget outlines plans for VAT cuts aimed at stimulating the hospitality sector. These reductions are intended to alleviate financial pressures on restaurants and hotels, which have struggled significantly in recent years. The government is also prioritizing the construction of new apartments to address housing shortages and improve affordability.

Energy Costs and Broader Economic Measures

Another crucial aspect of the budget is the focus on electricity prices. The proposed measures are designed to ease the burden of rising energy costs on both families and businesses. Political correspondent Seán Defoe notes that while much of the budget detail is still being finalized, these initiatives represent a proactive approach to economic support.

As the government prepares to present the full budget, stakeholders across various sectors are watching closely. The implications of these financial strategies will likely resonate throughout the economy, particularly for those directly impacted by housing costs and energy prices.

The finalization of Budget 2026 signifies a pivotal moment in the government’s economic planning, aiming to balance fiscal responsibility with essential support for citizens and industries facing unprecedented challenges.