Finance Minister Paschal Donohoe will take to his feet in the Dáil at lunchtime today to reveal the details of Budget 2022.
The €4.7 billion package will see €1.5 billion in additional spending, largely aimed at addressing the rising cost of living.
A five euro hike in the fuel allowance is expected to be among the measures he announces.
That’s in a bid to offset fuel costs – which will also rise at midnight due to a 7.50 a tonne increase in carbon tax.
The point at which people pay the higher rate of income tax will rise by € 1,500 – worth about € 8 a week.
Minister Eamon Ryan has secured a 25 million euro fund to give half price public transport to students and anyone aged between 19 and 23.
That’s likely to be a welcome move for students who are also hoping for an increase in the SUSI grant or a reduction in the contribution charges.
IT Carlow’s Student Union President Thomas Drury says it may be a longshot but it “would be a huge win for all students and all students unions across the country”
Pensions and most social welfare rates will rise by 5 euro a week – with a full Christmas bonus to be paid.
A 100m euro package from Minister Catherine Martin for the tourism sector will include a pilot universal basic income scheme for artists.
A loan guarantee scheme for financial institutions who lend to fund home retrofits forms part of a 350m euro climate package.
The Department of Justice has secured funding for 800 new Gardaí and 400 Garda civilian staff in 2022.
The Help to Buy Scheme is being extended by a year, while the Employment Wage Subsidy Scheme is being extended until the first Q of 2022.
The Department of Health budget is set to see a decrease in Covid funding, while new spending will see a scheme to provide free contraception to young women.
Stay tuned to KCLR for all of the updates on Budget 2022.
