LIVE: Updates as they happen from Budget 2022

Oct 12, 2021 12:05 By Shannonside News
LIVE: Updates as they happen from Budget 2022
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Scroll through all the latest updates below:


We will have more Budget analysis on air at 4.30pm with MaryClarie Greally and on the Bottom Line with Kevin McGillicuddy at 8pm this evening.

Thanks for joining us this afternoon.



Michael McGrath finishes his speech. The final announcements are as follows:

€69m for Foreign Affairs with focus on Brexit, enhancing global presence and online passport service.


Package on domestic and sexual violence including extension of legal aid for victims and funding awareness campaigns.







€50m for business continuity supports.
€39m for enhanced marketing and product development.
Pilot basic income guarantee scheme.
€25m for the continuation of live entertainment supports.



5 euro a week increase in state pension

3 euro a week increase to living alone allowance




3,320 additional CAO places as part of a 68m investment in higher ed

35m for cost of going to college

The SUSI grant will be increased by 200 euro and changes to who can get it

200 euro fee for post leaving cert courses will be scrapped


9.2bn for Education

- hiring 980 teachers
- 1,165 new SNAs



€700m for capital spending by Climate Department.
€202m for home retrofitting projects, supporting 22,000 energy upgrades.

€28m for ending direct provision in line with white paper.



716m investment in childcare in 2022.

€78m extra for National Childcare Scheme.

Linked to no increases in costs for parents.

New funding stream for 4,700 childcare providers from Sep 2022 on at a cost of 69m to improve conditions for workers.

Extend NCS to children under age of 15 from Sep 2022 at cost of 5m.


Women's Health package of 31m

Free contraception for women aged 17-25 from next August.
Progress on period poverty.
More funding for sexual assault treatment units.


Extension of free GP care to children aged 6 and 7.
Lowering of drug payment scheme threshold to 100 euro.
Improvement to dental access.
Measures to reduce cost of hospital charges for children.
€30m euro for new drugs.





The bank levy is being extended.

Ulster Bank and KBC will be excluded from the charge as they're leaving the market.

Expected yield of 87m.




Excise on a 20 pack of cigarettes going up 50c with a pro rata on other tobacco products

Price of most popular cigarettes now 15 euro


New tax credit for the digital gaming sector of 32% up to a limit of 25m on the design, production and testing of a game


7.50 increase in the carbon tax which will be reinvested in social welfare measures on fuel poverty and a just transition.

A revised motor tax system

- 1% increase in VRT for bands 9-12.
- 2% increase for bands 13-15.
- 4% increase for bands 16-20.


The ceiling for the second band of USC is rising to 21,295.

The USC exemption for medical card holders and those over 70 earning less than 60k stays in place.

The Help to Buy scheme will be retained for 2022 at current rates and reviewed next year.


The Minister has announced a 520m tax package.

That means the rate at which people pay the higher rate of tax is being increased by 1,500 euro.

While the personal tax credit, employee tax credit and earned income credit is being incrased by 50 euro.


Employees will be able to claim back 30% of vouched expenses for heat, electricity and broadband for working from home.

The minimum wage is rising by 30c to 10.50 an hour.


A reduced VAT rate of 9% for the hospitality sector will remain in place until August 2022.


The Finance Minister Paschal Donohoe says employment will return to pre-pandemic levels next year.

EWSS scheme extended in graduated rate until 30th April 2022

- No change in October and November
- businesses still availing on 31st Dec 2021 will get it until 30th April
- In Dec, Jan and Feb a two rate structure of 151.50 and 203 will apply
- March and April 2022 a flat rate of 100 euro will be inplace. Reduced employers PRSI will no longer apply
- Scheme closes to new entrants from 1st Jan 2022


National debt to come in just under 240bn next year.

Public spending in 2022 will be 87.6 billion euro.

The budget deficit from Covid forecast to be 21.5 billion down from 34.5 billion.


The Taoiseach says families are one of the main focuses of Budget 2022.

The 4.7 billion euro package is just about to be announced.

Plans to freeze childcare fees, a rise in social welfare payments, and a hike in the fuel allowance are among the measures to be unveiled.


And you are very welcome to our live budget updates on

We will keep you updated on all the key announcements from the Dail as Pascal Donohoe and Michael McGrath take us through the major announcements of Budget 2022.

You can follow our updates on Twitter and on Instagram as well

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