Budget 2024 – Employment Law
National Minimum Wage (NMW)
The NMW will increase by €1.40 from €11.30 to €12.70 per hour in respect of hours worked on or after 1 January 2024. The increase in the USC Rate 2 band will ensure that employees working up to 39 hours per week in receipt of the NMW remain outside the top rates of USC.
Statutory Sick Leave
Statutory sick leave will increase from 3 days to 5 days from 1 January 2024.
Parent’s Leave
Parent’s leave provides for 7 weeks leave with protection of employment for a parent to be taken within 2 years following the birth or adoption of the child. Parent’s Benefit is paid by the DSP subject to the employee satisfying the qualifying PRSI contribution conditions. Parent’s leave and Parent’s Benefit will be increased to 9 weeks from August 2024.
OTHER:
Public Transport
The 20% reduction in public transport fares will be extended until end of 2024 and the Youth Adult Leap Card will be extended to cover adults aged 19 to 25 years.
Energy Credit
Householders will receive a €450 electricity credit which will be applied to bills in 3 instalments of €150, with the first instalment to be made in December with the remaining instalments being paid in early 2024.
Student Contribution Fee
The Student Contribution Fee will be reduced on a once-off basis by €1,000.
Free School Books From September 2024, the free school books scheme will be extended to secondary school students for the first 3 years of their secondary education in recognised secondary schools within the free education system.
