Budget 2023 will be announced in days as the Government is expected to deliver a range of measures to help those struggling with the rising cost of living.
A cost of living package is set to provide some relief, with the average worker to benefit from once-off payments and some other increases.
Finance and Public Expenditure Ministers, Paschal Donohoe and Michael McGrath, have about €6.7 billion to play with in the main budget, while a final figure on the latest cost-of-living package is yet to be released.
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Here is a closer look at what we know so far and how Budget 2023 will benefit the average worker in Ireland on a salary of just over €50,000.
Energy
A series of universal energy credits are expected to be announced.
These will be in the form of three €200 credits overall, with one to land before Christmas, with the remaining two to be applied to accounts in the new year.
It’s also expected that there will be an increase in the Fuel Allowance, with the threshold that a person must reach to receive the payment to also be expanded.
Tax changes
The Government is considering tax cuts that would cost a total of €1.8bn in Budget 2023.
Ministers are considering increasing standard income rate bands by €2,500 and an increase in personal tax credits of €100 for single people to €1,800 and a €200 increase for married people to €3,600.
While the PAYE credit may also be raised by €100, from €1,700 to €1,800.
Tanaiste Leo Varadkar has promised tax cuts to help "squeezed" middle-income earners the most.
Petrol and Diesel costs
Over the past year, motorists have faced huge increases in the cost of petrol and diesel.
To combat this, the Government is considering extending the cut on excise duty of 9 per cent on petrol and diesel that is due to expire at the end of this year for another six months.
Education
A reduction on fees for third-level students is also being considered.
This could be reduced by up to €250 a year for students paying €3,000 annually in college fees.
It comes as young people plead for the Government to raise the national minimum wage for under-20s so they can afford to live in Ireland.
Over 70 per cent of young people aged 18-24 admitted that they are considering moving abroad because they think they would enjoy a better quality of life elsewhere.
Sick Leave and bonuses
Leo Varadkar has also said there may be a new law on sick leave, entitling almost all workers in the State to sick pay of up to €110 per day, which would come into effect in 2023.
However, unions have criticised deferring the new law until next year, which was initially planned to come into effect this month.
While Finance Minister Paschal Donohoe is also working on a proposal to increase the tax-free bonus amount an employer can give an employee from €500 to €1,000 annually.
Under current rules, employees can only receive a benefit of €500 in value, tax-free, each year from their employer.
This benefit must not be in cash but can be in the form of vouchers or cards that can be used to purchase goods or services.
Child Benefit
A once-off child benefit payment is also being considered to support families, which is expected ahead of the Christmas season.
Parents with one child could receive €280 under this proposal, while parents with two children would be entitled to €560.
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.
Meanwhile, a family with three children is eligible to receive €840 if the Government agrees to the policy.
A family with twins would also get €840 as they receive one-and-a-half times the normal rate per child.
Childcare
It is understood that Government is also aiming to reduce childcare costs by €200 per month next year and a further €200 per month the following year.
Children's Minister Roderic O'Gorman previously said he hopes to see childcare fees fall by 50 per cent over the next two years.
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