Budget 2023

They say someone married on 40k will be 1600 better off. I'm under 40k, married, single income. I'll be 266 better off for the year. 5 euro a week.

Are you including energy credit (€600), rent relief (€1000). If you have kids in school, books are free next year. If you have kids in college fees are discounted €1K this year and €500 thereafter.

It's a good budget.

The whole '' every household'' approach is laughable, you have extremely well off people getting all these handouts when it's the poorer people that need them.

Indeed the same railcars as mentioned already in the late boom years 2004 to 2007!

Where did they say that?

Reckon you misread it..

The poor people with Nike Air and iPhone 14, or the ones who genuinely can't work or find themselves poor through no fault of their own? I empathise with the later, but there are far more of the former on the scratcher under the age of 50.

What "handouts" are the wealthy getting?

Are you jointly assessed with your partner and get their tax credits.

Also you are already benefiting paying lower tax than someone on higher rate. You also get the other benefits that people mentioned.

The KPMG analyst on prime time showing huge hikes for those on lower income. Up to 2.5k annually for minimum wage renters. Before energy credit factored in.

All paid for by the "wealthy" of course

Personal Income Tax

Income Tax

An increase of €3,200 in the income tax standard rate band cut-off point for all earners:

• Single, widowed or surviving civil partner from €36,800 to €40,000;

• Single, widowed or surviving civil partners, qualifying for the Single Person Child Carer Credit from €40,800 to €44,000;

• Married couples or civil partners (one income) from €45,800 to €49,000;

• Married couples or civil partners (two incomes) from €45,800 to €49,000 (with an increase of €31,000 max ).

An increase of €75 in the Personal Tax Credit from €1,700 to €1,775.

An increase of €75 in the Employee Tax Credit from €1,700 to €1,775.

An increase of €75 in the Earned Income Credit from €1,700 to €1,775.

An increase of €100 in the Home Carer Tax Credit from €1,600 to €1,700.

USC

The ceiling for the 2% rate of USC will be increased by €1,625 from €21,295 to €22,920.

The increase in the 2% rate band ceiling will ensure that a full-time adult worker who benefits from the increase in the hourly minimum wage rate from €10.50 to €11.30 will remain outside the top rates of USC.

The USC Rates & Bands from 1 January 2023 will be: Incomes of €13,000 are exempt. Otherwise:

• €0 – €12,012 @ 0.5%

• €12,013 – €22,920 @ 2%

• €22,921 – €70,044 @ 4.5%

• €70,045+ @ 8%

• Self-employed income over €100,000: 3% surcharge

The USC concession for medical card holders is being extended for a further year to 31 December 2023. Reduced rates of USC apply to individuals who have a full medical card and whose income is

€60,000 or less. The reduced rates of USC are 0.5% on the first €12,012 and 2% on the balance.

Small Benefit Exemption

An increase in the limit to €1,000 and an increase in the number of benefits in a year that an employer can give from one to two per year.

Every household will get €600 electricity credit, with the first payment before Christmas and two more in the new year

Help to Buy (HTB)

The HTB scheme is being extended in its current form for a further two years until 31 December 2024.

Living City Initiative (LCI)

The Living City Initiative is being extended for a further five year period to 31 December 2027.

In addition, the relief available to owner-occupiers is being accelerated so that it may be claimed over seven years in place of the existing ten years. It is also proposed to allow carry-forward of any excess relief by owner-occupiers where it cannot be absorbed in year, up to a maximum of ten years.

Pre-letting Expenses for Landlords

This measure is being amended to increase the eligible expenditure cap from €5,000 to €10,000 per property with effect from 1 January 2023 is being halved from twelve to six months.

Rent Tax Credit

A new tax credit of €500 per annum for renters in the private rented sector is being introduced for those who are not in receipt of any other State housing support. Only one credit may be claimed per person per year, however it is proposed that the value of the credit will be doubled in the case of married couples and civil partners. It is proposed that the credit may be claimed “in year” in the years 2023 to 2025 and that, in addition, it may be claimed for 2022 from early in 2023.

Social Welfare

• weekly social welfare rates will be increased by €12 for working age recipients

• there will also be a €12 increase in weekly payments for pensioners

• the Working Family Payment threshold will increase by €40

• there will be a €2 increase in the weekly rate for a qualified child qualified child

• there will be an increase in eligibility for Fuel Allowance

• a €500 lump sum for families availing of the Working Family Payment , a €500 lump sum for carers , a €500 cost of disability payment and a €20 increase in the domiciliary care allowance for sick children

There will be a once-off double payment week for core social welfare recipients.

A once-off double-week "Cost of Living Support" will also be paid in October to pensioners, carers, people on disability payments, and job seekers.

Meanwhile, the normal Christmas Bonus will be paid in early December.

Summary of Social welfare

• A double Child Benefit payment (worth €140 per child) will be paid in November in addition to the normal monthly payment.

• A once-off double week "Cost of Living Support" payment to social welfare recipients in October - this will include pensioners, carers, people on disability payments and jobseekers.

• Additional €500 for those receiving the Working Family Payment to be paid in November.

• Additional €500 for Carer's Support Grant recipients to be paid in November.

• Once-off payment before Christmas of €200 to recipients of the Living Alone Allowance.

• Once-off payment of €500 to those who qualify for Disability Allowance, Invalidity Pension and the Blind Pension to be paid in November.

• The normal Christmas Bonus will be paid in early December for social welfare recipients. €12 per week increase for every recipient of a social protection payment.

• Working Family Payment thresholds rise by €40 per week with Qualified Child Increase for under 12s up to €42 per week and for over 12s to €50 per week.

• Qualifying income threshold for the Fuel Allowance will increase (from 1 January) from €120 to €200 above the relevant rate of the State Pension Contributory. For over 70s, the weekly Fuel Allowance means limit will be extended to €500 for single people, €1,000 for couples.

• Domiciliary Care Allowance rate rises by €20.50 to €330 per month and will be available to parents of babies who have to remain in hospital for six months.

• Top-up payment to participants on the Community Employment, TÚS and Rural Social Scheme rises by €5 to €25 per week.

Health

• all inpatient hospital charges will be abolished

• GP visit cards will be provided to those on or below the median income (340,000 additional people)

• there will be a €2 increase in the weekly rate for a Qualified Child

• the Drug Payment Scheme threshold will remain at the lower rate of €80 in 2023

• funding will be provided to provide access to IVF treatments

• free contraception will be available for all women aged between 16 and 30

Childcare and education

• there will be a Free School Book Scheme for primary school pupils from autumn 2023

• there will be a €500 increase in post-graduate contribution grant for eligible families

Free school books part of spending on Department of Education

• Funding given to the Deparment of Education allows for 686 new teachers for special schools and classes on top of 1194 SNAS

• The pupil to teacher ratio drops for third year running - bringing with it 370 new jobs.

• Free school books will be given to primary school students from September of next year

Students

• A once off reduction of the Student Contribution Fees of €1,000 for eligible students

• A once off double monthly payment of the SUSI Maintenance Grant

• A €1000 increase to the post graduate fee contribution grant

• The extension of the 20% reduction on public transport fares until the end of 2023

• The student contribution fee will be reduced by €500 on a permanent basis for families who earn between €62,000 and €100,000

• All SUSI Grants will be increased between 10% and 14% from September of 2023

Energy assistance

• €600 in electricity credits for all households to be paid in three instalments of €200; the first payment will be made before Christmas, with two further instalments in the New Year.

• Those in receipt of the fuel allowance payment will receive a lump sum of €400 before Christmas.

• 9% VAT rate for electricity and gas extended until 28 February, 2023.

Social protection (changes for 2023)

€12 per week increase for every recipient of a social protection payment.

Working Family Payment thresholds rise by €40 per week with Qualified Child Increase for under 12s up to €42 per week and for over 12s to €50 per week.

Qualifying income threshold for the Fuel Allowance will increase (from 1 January) from €120 to €200 above the relevant rate of the State Pension Contributory. For over 70s, the weekly Fuel Allowance means limit will be extended to €500 for single people, €1,000 for couples.

Domiciliary Care Allowance rate rises by €20.50 to €330 per month and will be available to parents of babies who have to remain in hospital for six months.

Top-up payment to participants on the Community Employment, TÚS and Rural Social Scheme rises by €5 to €25 per week.

Tax changes

Entry point for higher PAYE rate of 40% is increased (by €3,200) to €40,000 a year - below that, the rate remains at 20%.

Main tax credits (Personal, Employee and Earned Income Credit) rise by €75.

Home Carer Tax Credit increases by €100, to support stay at home parents.

Second USC rate band (2% rate) will rise from €21,295 to €22,920 (in line with the 80 cent per hour increase in the national minimum wage, this means full-time workers on minimum wage will remain outside the top rates of USC).

Those with a medical card and earning less than €60,000 a year will pay a reduced rate of USC for a further year.

PAYE will now be paid at the 40% rate on earnings above €40,000

Energy assistance

€600 in electricity credits for all households to be paid in three instalments of €200; the first payment will be made before Christmas, with two further instalments in the New Year.

Those in receipt of the fuel allowance payment will receive a lump sum of €400 before Christmas.

9% VAT rate for electricity and gas extended until 28 February, 2023.

Housing/rent

Help-to-Buy scheme will continue, at current rates, until the end of 2024.

Taxpayers paying rent on their principal private residence will receive a new rent tax credit valued at €500 per year from 2023 - it may also be claimed in respect of rent paid in 2022.

Amount landlords can claim in pre-letting expenses per premises is being doubled to €10,000 and by reducing the period for which a premises must be vacant from twelve to six months.

A new Vacant Homes Tax is being introduced for residential properties which are occupied for less than 30 days in a 12 month period. It will be charged at a rate equal to three times the property's existing basic Local Property Tax rate.

Renters will receive a new €500 tax credit

Childcare

Funding to support a reduction of up to 25% in the weekly fee for those using the National Childcare Scheme - this should result in up to €175 a month savings for parents in 2023.

Healthcare

An overall package of €443 million to help reduce waiting lists.

Extending free GP care to more than 400,000 people. This pledge includes, by the end of 2022, all children aged six and seven.

Expanding free contraception, currently available to women aged 17 to 25, to those aged from 16 to 30 years.

Providing financial support for access to IVF treatment.

A zero rate of VAT will be applied to hormone replacement and nicotine replacement therapies, as well as period products currently subject to a 9% rate.

Education

Reduction of pupil-teacher ratio in primary schools to a historic low of 23:1

Free primary school books for all children

Additional 686 Special Educational Needs teachers

Additional 1,194 Special Needs Assistants

€100 million to help schools deal with rising energy costs in 2022 and to support school transport providers.

Primary school books will be cost-free for the first time

Third level

Student Contribution Fee cut by €500 for eligible families earning between €62,000 and €100,000.

Income limit to qualify for a 50% reduction in contribution fees under SUSI will be increased from €55,240 to €62,000.

All SUSI maintenance grants will be increased by between 10% and 14% in September 2023.

Once-off €1,000 increase to the post graduate fee contribution grant.

Post-Graduate Fee Contribution Grant for eligible students of €3,500 will increase by €500.

An extra €10 million for further and higher education institutions to help with rising costs.

Private and public transport

Excise reduction of 21c per litre (petrol), 16c per litre (diesel) and 5.4c (marked gas oil) extended until 28 February, 2023

Carbon taxes on petrol and diesel will go up from €41 to €48.50 per tonne from 12 October resulting in an increase of just over 2c per litre of petrol and diesel. However, the Government says the price at the pumps should not go up because it is offsetting this with a reduction (from 2% per litre to zero) of the National Oil Reserves Agency (NORA) levy.

20% public transport fare reduction and the Youth Travel Card discount of 50% on all operators' services extended to end of 2023.

There is... I'll give you my revolut details.just transfer the the difference between our increases to me. 😁

Ok what i read on SVDP’s own reports and website is 200,000 children in poverty(enforced deprivation) and not 500,000 as you claim.

Also I know USA,UK and Ireland are different countries but it’s still ok to compare them as people often compare standards here to the UK.

Low income workers won't get fuel allowance, well of pensioners will.