With the cost of living, particular energy costs, soaring in recent months, it looks likely that the government will extend a rebate to households this year to tackle the impact.
The new payment under consideration could amount to €400 or €500 and would be paid between November and March to help people through what is expected to be a grim winter in terms of costs.
Government is currently working out the details of Budget 2023, set to be announced on September 27, and finalising a number of details to help households through the cost of living crisis, RSVP reports.
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The State has over €5billion in spare cash after record tax returns. The last energy rebate of €200 paid to every household in the country last April was a huge success, so it’s natural that leaders are considering a similar action to help people through the cold winter when energy costs are continuing to rise.
It’s expected this measure could replace Tanaiste Leo Varadkar’s proposed new tax band rate which would have given middle income employees earning €40,000 an extra €1,000 in their annual take-home pay.
Leo’s new tax cut proposal reportedly won’t impact enough workers and will not have an impact on those most at risk of falling into poverty due to the cost of living crisis.
There are a number of other measures being discussed by the government that could be introduced as part of the package.
Some of these include social welfare changes, as well as things that will help all households across the country.
Double social welfare payment in autumn
Much like the annual Christmas double payment for welfare recipients, this bonus will be paid to all pensioners and welfare recipients with a cost of €350 million to the state. It’s believed the welfare bonus payment will be part of Budget 2023.
Double child benefit payment
Parents could receive a double child benefit payment in the coming months. The move would be a huge boost to parents, who would be in line for a €280 one-off payment if they have one child or €560 if they have two.
A family with three children would receive €840 if the policy is agreed by the coalition partners.
A family with twins would also get €840 as they receive one-and-a-half times the normal rate per child.
Cigarettes and alcohol
The price of cigarettes and alcohol looks likely to remain the same after next month’s budget.
A political source told The Irish Times that they did not think it was a good idea to increase the cost of these items as it would place even more of a burden on Irish consumers.
This would mark a departure from previous budgets, as the cost of a pack of 20 cigarettes has risen by 50c every year for the past seven years.
Childcare
Ministers have confirmed that reducing the cost of childcare for parents is a major priority, and Minister for Children Roderic O'Gorman has said that he wants to cut costs in half across the next two Budgets.
It's thought that the main focus will be on the National Childcare Scheme, which gives financial support to parents via subsidies. The Irish Examiner reports that this could mean €100m is put towards cutting childcare costs.
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