Budget 2023 to be revealed today

Budget 2023 to be revealed today

BUDGET 2023 will be revealed today in Ireland, with specific additional measures being introduced before the end of the year to help with the cost-of-living crisis.

The overall cost of the budget is expected to come to €10 billion. €7 billion of that is to come from the stand-alone budget, with the remainder being allocated to the cost-of-living package.

Minister for Finance Paschal Donohoe is expected to begin his speech at around 1pm, which will then be followed by a speech from Minister for Public Expenditure and Reform Michael McGrath.

Key measures set to be announced:

  • Businesses to get up to €10,000 a month for energy bills
  • Weekly welfare rates to increase by €12
  • Renters to get two €500 tax credits
  • Entry point for top tax rate to increase to €40,000
  • Childcare fees to be cut by 25 per cent
  • Third-level student fees to be cut by €1,000
  • Double child benefit payment to be paid
  • Extend the GP visit card to 430,000

The final budget will be sent to a Cabinet meeting that is due to convene at 10am for approval.

The rest of the day will be taken up by Opposition spokespeople giving their views on what has been unveiled.