Budget 2023 is just around the corner as the Government look to finalise the cost-of-living package as it aims to tackle the rising expenses affecting families across the country.The cost of living package is expected to cost at least €2 billion and looks to provide some relief to both businesses and homes throughout Ireland.
Energy bills The cost of energy has spiralled exponentially in recent times, with many families worried about how they will heat their homes this winter.It is expected this will come in three instalments of €200 energy credits between now and next spring.Minimum wage changes Budget 2023 is expected to see the minimum wage increase by a further 80c bringing it to a total of €11.30 per hour.
Tax cuts The Irish Independent has reported that tax and USC cuts could be introduced as part of this year's Budget.The publication says that the PAYE credit may also be raised by €100, from €1,700 to €1,800, which would cost €226m. Those in receipt of child benefit payments could be in line for a €280 one-off payment if they have one child or €560 if they have two.
Childcare It is understood Government also aims to reduce childcare costs by €200 per month next year and a further €200 per month the following year.