Bu Budget 2023: €1k Better Off, Christmas Bonus Boost
The Irish government has unveiled its Bu Budget 2023, a package of measures aimed at tackling the cost of living crisis and providing relief for households and businesses. The budget, announced by Minister for Finance Paschal Donohoe, includes a range of measures, from tax cuts and increased social welfare payments to one-off supports for specific groups.
€1,000 Better Off
One of the key announcements in the budget is a €1,000 per household package, designed to provide financial support to families facing rising living costs. This package includes:
- €200 cost of living payment: This will be paid in two installments, one in April and the other in October.
- €500 energy credit: This will be paid in three installments, starting in November.
- €300 public transport credit: This will be valid from October 2023 to June 2024.
This package aims to directly counter the cost of living increases in areas such as energy, transport, and food.
Christmas Bonus Boost
The budget also includes a boost to the Christmas bonus for social welfare recipients. The bonus will be paid at 100% this year, meaning recipients will receive the full amount of their usual weekly payment as a bonus. This increase is designed to provide additional support to those most vulnerable during the festive season.
Other Key Measures
Beyond the €1,000 package and the Christmas bonus boost, the Bu Budget 2023 includes a range of other key measures, such as:
- Tax cuts: There will be reductions in income tax, USC, and PRSI for workers.
- Increased social welfare payments: Payments for carers, jobseekers, and people with disabilities will be increased.
- Supports for businesses: There will be measures to help businesses with energy costs and to encourage investment.
Overall Impact
The Bu Budget 2023 is a significant package of measures designed to provide immediate relief to households and businesses facing the cost of living crisis. While some may argue that the measures do not go far enough, the government is aiming to provide a balance of short-term support with long-term measures designed to promote sustainable growth.
The impact of these measures will be felt in the months and years to come, with the government aiming to create a more resilient economy and a fairer society.
