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Government delivers largest budget in the history of the State

Sep 27, 2022 17:09 By radiokerrynews
Government delivers largest budget in the history of the State Government delivers largest budget in the history of the State
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The Government has delivered the largest budget in the history of the state in response to a historic cost of living crisis.

Renter tax credits, electricity payments and a record social welfare spend will be delivered over the coming months, as announced in Budget 2023.

 

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It's arguably the most significant budget spend in a decade and will put thousands of euro back in some pockets.

Those earning 40,000 euro or more will get 800 euro a year back in income tax, with Paschal Donohoe indicating a third rate of income tax may be considered next year.

There will be a 1,000 euro cut in student fees along with increases in the student grant

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Social welfare payments will increase across the board by 12 euro a week, along with large once off payments for carers, people with a disability and people on the fuel allowance

The carbon tax will rise but there will be no increase on petrol and diesel as the cost is being offset.

A pack of 20 cigarettes will be up by 50c but alcohol has been left alone

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Indeed there will be new tax breaks for small cider producers and a halving of the late night licencing fee.

There will be a new tax on concrete blocks to part fund the mica redress scheme, while no windfall tax on energy companies was announced with the Government waiting on EU plans.

It's a budget that is going to put between 600 and several thousand euro back in many peoples pockets, but only time will tell if it will be enough to get through the long winter to come.

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