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Irish Mirror
Irish Mirror
National
David Kent

Paid under €50,000 a year in Ireland? These Budget 2023 measures could put more in your pocket

We're just 12 days away from Budget 2023 - one which the Government has promised will help "every house in Ireland."

The cost of living package is expected to be at least €2bn when it is announced on September 27 - with at least half of that to be related to taxes.

Taoiseach Micheal Martin had said: "There are two elements to it; in the cost-of-living package, we want to allocate as much as we possibly can in the 2022 financial year. Then there are the budgetary measures where we do have to look at it from a policy perspective, a more sustained improvement, for example."

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While we won't find out absolutely everything that's involved until Finance Minister Paschal Donohoe takes to his feet in under a fortnight, there have been a few hints dropped already.

Energy credit help

In April, a €200 electricity credit was applied to each household as part of measures announced by the Irish Government to help people grapple with the rising cost of living.

Speaking to reporters after the conclusion of Cabinet on Wednesday, Mr Ryan said that there would be another such support before the end of the year.

Tanaiste Leo Varadkar later suggested that this won't be the end of energy credit, and suggested that more is to come in the new year to help those struggling with their energy bills.

Minimum wage going up

Officials raised the wage at the beginning of 2022 by 80c to its' current rate of €10.50 an hour for anyone aged 20 or over.

The Low Pay Commission, which makes recommendations to the Minister for Enterprise, Trade and Employment Leo Varadkar, reportedly called for another rise in 2023 earlier this year.

The Government gave the plan the green light for 2023- bringing the wage up by another 80c an hour to €11.30 an hour.

The publication says that there are also plans for the move towards the introduction of a living wage replacing the minimum with aim of it being €13.70 per hour by 2026.

Tax reductions

The Irish Independent report that sweeping tax and USC cuts will be introduced - which could save people up to €1,000 a year.

The publication says that the PAYE credit may also be raised by €100, from €1,700 to €1,800, which would cost €226m.

Other tax cuts being considered include an increase in personal tax credits of €100 for single people and €200 for married people to €1,800 and €3,600 respectively.

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