James Browne casts doubt on increase to rent tax credit in Budget 2026
This is despite the programme for Government vowing to 'progressively increase the Rent Tax Credit'.
The Rent Tax credit was introduced as part of Budget 2023 and allowed renters to get a tax rebate of €500 per person, or €1,000 for couples. For 2024 and 2025, this increased to €750 or €1,500 for a couple.
Despite indications that it would increase further, Minister Browne cast doubt on the idea on Wednesday, noting that, given the current economic climate, we will have a 'different' budget in October.
He said: 'The rent tax credit was very much welcome. I think it's a huge support for renters.
'All of us in Government are very conscious of that. We're conscious that rents are, unfortunately, continuing to increase.
'That's why we're making decisions to increase the supply so we can get rents back down. The only way we're going to get rents down is by increasing that supply.
'But in terms of the budget, I think, as we do every year, we'll enter into negotiations with [Finance] Minister [Paschal] Donohoe across the Government.
'A lot of tough decisions have to be made. We're in very uncertain terms.
'In fairness to Minister Donohoe and everybody else in Government, we have to leave those discussions to the budget time.'
When one reporter told Minister Browne that the former housing minister, Darragh O'Brien, was always happy to speculate on the budget, the current Housing Minister said that the financial situation had changed.
He continued: 'I will always work with Minister Donohoe, work across Government. He has tough decisions.
'We are in a slightly different situation at the moment. We're in very uncertain times. I think the budgetary situation is far more uncertain than it was in the past.
'But I think the commitment of this Government to renters in terms of the rent tax credits we've had to date and in terms of the rent security now we're bringing in to change the legislation, our commitment really is there for renters.
'They are in a very difficult situation. I'm very conscious of that, and certainly I'll be working towards everything we can do to help those renters.'
Earlier this week, the Cabinet signed off on new guidelines for apartments that will reduce the minimum size of studio apartments from 37 square metres to 32 square metres
Mr Browne, who said his proposals will reduce costs by between €50,000 and €100,000 per unit, also confirmed he will publish the research which shows this.
He added: 'We know we have to make very real decisions here.
'We were very disappointed with the number of homes that were delivered last year.
'We did expect a higher number. I went through why that happened. I really analysed it, and when you look at it, it's actually a collapse in delivery of apartments in Dublin city.
'We need to get those apartments delivered, whether they're built to rent or whether they're built to sell, as a key part of getting the homes delivered.
'We will publish that research.'
The Irish Mirror's Crime Writers Michael O'Toole and Paul Healy are writing a new weekly newsletter called Crime Ireland. Click here to sign up and get it delivered to your inbox every week
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