It’s expected that the pension and social welfare payments will see an increase of about €5 a week.
With Budget Day finally here, speculation is rife about what measures will and won’t be announced by the Finance Minister this afternoon.
At 1 o’clock Paschal Donohoe will begin his speech at Leinster House.
It’s expected that the Universal Social Charge rates will be lowered, and that the government will raise the point at which people qualify for the highest rate of income tax.
It would mean roughly an extra €20 a month for those of you on average incomes.
Increased excise on cigarettes and alcohol is another likely measure, along with the introduction of a sugar tax.
It’s also expected that the pension and social welfare payments will see an increase of about €5 a week, while the Social Protection Minister has said single parents are a priority for her.
Stamp duty is also set to rise from 2 to 5%, which could raise €300 million.
We’ll have a full breakdown of today’s budget announcements throughout the afternoon here on KCLR and we’ll have a Budget Special this evening on The Way It Is from 5.30pm.