Sinn Féin TD for Waterford Conor D. McGuinness has criticised Budget 2027, claiming it fails to provide enough support for Waterford families struggling with the cost of living.

Among the measures announced in the Budget is a €150 increase in the renters’ tax credit, bringing it to €1,150.

Excise rates on petrol and diesel will remain at their reduced levels until the end of February 2027, before being restored in four phases up to June 30.

The Government has also announced changes to the Fuel Allowance, while measures aimed at reducing the cost of home heating oil have been included in the package.

However, Deputy McGuinness says the Budget does not go far enough for households facing rising costs.

“This could have been a Budget to make life more affordable. Instead, for the second year running, Fianna Fáil and Fine Gael have left the majority of workers worse off,” he said.

“Families are facing relentless increases in the cost of food, fuel, energy, rent and housing. Yet after years of record tax receipts, this Government has failed to tackle the costs making life so unaffordable.”

The Waterford TD claims more than 1.5 million workers will receive less than €250 over the course of the year as a result of the Budget measures, which he said amounts to less than €5 per week.

He also criticised the level of support being provided to renters and households relying on home heating oil.

According to Deputy McGuinness, the €150 increase in the renters’ tax credit does not go far enough, while he claims the measures relating to home heating oil will amount to a reduction of less than €43 despite the cost of a fill increasing by around €700 this year.

He also criticised changes to the Fuel Allowance, claiming recipients will receive €12 less over the winter than they did last year, while arguing that students and people with disabilities have been left without sufficient support.

“This is a Government spending significant sums of money without properly tackling the costs that are making life unaffordable,” he said.

Deputy McGuinness said Sinn Féin had proposed cutting USC on the first €40,000 earned by every worker, removing the carbon tax from home heating oil, restoring energy credits, reducing food and fuel costs and increasing support for renters.

He said the party also wanted greater investment in affordable housing.

Turning specifically to Waterford, Deputy McGuinness said the Budget had failed to provide sufficient certainty around a number of major projects and services.

He called for progress on the N25, increased investment in community facilities and local services, and a significant increase in the delivery of affordable and social housing across County Waterford.

He also said greater certainty is needed around investment in University Hospital Waterford and transport infrastructure, including BusConnects Waterford.

“Waterford families deserve better. This Budget was an opportunity to use the State’s strong finances to make life more affordable and invest in the infrastructure our communities need,” Deputy McGuinness said.

“Instead, once again, people are being asked to pay more while getting far too little in return.”

However, Waterford Junior Minister John Cummins has defended the Budget, pointing to increases in tax credits, a higher threshold for the 40% income tax rate, reduced childcare costs and increases in social welfare payments.

The Fine Gael TD said the measures are designed to help with the cost of everyday life, arguing the Government is “rewarding hard work so people can get ahead, not just get by”.