With the budget due to be published tomorrow we’ve set out some provisional details below that we expect the Minister of Finance to announce in the Dail.
The budget package will very likely not be above €7 billion, with the cost-of-living package expected to come in at around €3 billion, with an estimated €1 billion for contingency funding.
We will post updates and additions as we get them.
Families & Children
- Free schoolbooks for primary level children are expected from next year.
- Creche fees are expected to be significantly reduced over the next two budgets, starting with a €200 reduction in Budget 2023.
- Pupil-teacher ratios expected to be reduced from 24:1 to 23:1. With lower ratios in Deis schools.
- A significant increase in funding for school bus transport.
- Third-level fees expected to be reduced by €500.
- Electricty credits over 3 bills expected to total €600.
- Public transport fare reductions are to be extended.
- A tax credit for renters of possibly up to €500 annually. It’s expected to be per renter and not per rental agreement.
Income Tax & USC
- The top tax band to be extended to €40k for single and up to €80k for two income couple worth €800 a year to those on the higher rate and up to €1,600 for a couple.
- There is expected be minor changes in the USC rates and also some minor changes to PRSI.
- Double welfare payments are expected soon after Budget
- A social welfare increase is expected in the range of €10 – €15, but a mid range figure is expected.
- Fuel allowance is also expected to be increased along with an increase of threshold amounts for eligibility.
- A broadening of the eligibility criteria for the working family payments.
- A once off payment for families of carers of people with a disability, which is expected to be €500.
- The first-time home buyers Help to Buy scheme is expected to be extended for two years.
- Vacant propery tax is expected to be announced.
- 1k tax free bonus allowed to be given by employers, an increase from €500 previously.
- Recruitment of an extra 800 gardaí to be announced.
- Zero vat rate for newspapers.