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Final decisions being made ahead of Budget

Oct 9, 2023 17:22 By Shannonside News
Final decisions being made ahead of Budget
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It looks like the government is going to accept the Low Pay Commission's recommendation of a €1.40 increase to the minimum wage - bringing it to €12.70.

The finishing touches are being applied to next year's Budget.

Coalition leaders and the Ministers for Finance and Public Expenditure have been meeting this afternoon.

It looks like the government is going to accept the Low Pay Commission's recommendation of a €1.40 increase to the minimum wage - bringing it to €12.70 .

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Energy credits will make a return this Winter - expected to be between 400 and 450 in total.

Other one-off measures include payments for carers and people with disabilities, as well as a double social welfare payment in either December or January.

It's thought the cost-of-living package will be worth over 2 billion euro.

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There will be a social welfare rate increase of at least 12 euro - but could be as high as 15 from January.

There are also changes incoming to personal taxation - with the 4.5 percent rate of USC to reduce to 4 - while the entry point of the higher rate of income tax will go up 2 thousand to €42,000.

The budgets of the Departments of Social Protection and Children were the outstanding departments to be finalised before the meeting of government leaders this afternoon.

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