Budget 2023 introduced a number of very welcome cost of living measures to seek to ease the financial burden for households for the year to come. These measures include:

Cost of Living Measures for Households

  • €600 credit for household energy bills to be paid in three instalments of €200, with the first payment to be made before Christmas and two further instalments in the New Year.
  • A lump sum payment of €400 will be made before Christmas to recipients of the weekly fuel allowance payment.
  • A once-off double week “Cost of Living Support” payment to all qualifying social protection recipients, including pensioners, carers, people on disability payments and jobseekers, will be paid in October.
  • The normal Christmas bonus for eligible social welfare recipients will be paid in early December.
  • An additional lump sum payment of €500 will be made to those in receipt of the Working Family Payment in November.
  • A double Child Benefit payment to all qualifying households will be paid in November.
  • A once-off payment of €200 to recipients of the Living Alone Allowance to be paid before Christmas.
  • A payment of €500 to those who qualify for the Carer’s Support Grant will be made in November.
  • A once-off payment of €500 to those who qualify for Disability Allowance, Invalidity Pension and the Blind Pension will be made in November.
  • €12 increase in the weekly social welfare payments, with proportionate increases for qualified adults.
  • A once-off reduction in the Student Contribution of €1,000 for eligible students in the 2022-2023 education year.
  • A once-off double monthly payment for those in receipt of the SUSI maintenance grant.
  • A once-off €1,000 increase to the Post Graduate Tuition Fee Contribution Grant.
  • In 2023, funding will be provided to reduce the Student Contribution Fee by €500 for eligible families earning between €62,000 and €100,000. The income limit to qualify for a 50% reduction in contribution fees under SUSI will be increased from €55,240 to €62,000 and all SUSI maintenance grants will be increased by between 10% and 14% in September 2023.
  • The 20% public transport fare reduction and the Youth Travel Card discount of 50% on all operators’ services will be extended to the end of 2023.

Our summary of the tax measures introduced in Budget 2023 can be found at: Budget 2023 Summary of Tax Measures

For the full transcript of the budget please refer to http://www.revenue.ie