OF LIVING BUDGET
In Fine Gael, we understand that the cost of living is rising. It’s more expensive to do the weekly shop, to fill your car, or to pay your utility bills.
So, Budget 2023 is a Cost of Living Budget, designed to help you and your family, with measures for the most vulnerable and the squeezed middle.
In this Budget Fine Gael is:
• Putting more money back in your pocket by cutting income tax, increasing pension payments, and increasing welfare payments for families, people with disabilities and carers.
• Helping you and your family with the cost of living in areas like childcare, public transport, the cost of putting a child through school, or saving up for your first home.
• Backing business by helping companies to pay their energy bills this winter.
• Helping with the cost of going to college, by both cutting fees and raising the student grant.
• Building safer and stronger communities by providing more resources to the Gardaí and the Defence Forces who together protect us.
• Ensuring the best start for every child with major investment in childcare and early education.
• Putting €2 billion aside this year and €4 billion next year in a Reserve Fund to protect Ireland from unexpected future shocks.
Whatever happens, you can rely on the Fine Gael team to make sure that our economy stays strong, so that we have the resources to continue helping you with the cost of living, and continue investing in vital public services and public infrastructure like housing.
WHAT’S IN THE FOR YOU & YOUR FAMILY? COST OF LIVING BUDGET
COST
0612 COLM BROPHY TD Dáil Éireann, Leinster House, Kildare St, D02 A272. 01-6183196 Minister of State for Overseas Development Aid and Diaspora colm.brophy@oireachtas.ie ColmBrophyFineGael @brophytalks YOUR FINE GAEL TEAM IN DUBLIN SOUTH WEST
Cllr. David McMANUS
Cllr. Baby PEREPPADAN
Cllr. Brian LAWLOR
MEP frances.fitzgerald@europarl.europa.eu CBrophy_COLB23_Oct22.indd 1 11/10/2022 10:41
Cllr. Lynn McCRAVE Frances FITZGERALD MEP
Below
€3,661
max
Working | Single
• 9% VAT rate for gas & electricity
• Excise cut for petrol€12 saving on a tank of petrol (€9 diesel)
€4,071
Working Married, 2 earner, 1 @ sec school, 1 @ primary school 1 @ creche
Working married, 2 earner,
are six examples of what the measures announced in the Budget could mean for individuals and families across the next few months and in 2023.
IN THE FOR YOU & YOUR FAMILY? COST OF LIVING BUDGET • State Pension x2 (in 2023) - €1,248 • Christmas Bonus x2 - €506 • Double payment (Cost of Living Support) x2 - €506 • Electricity credit - €600 • Fuel allowance lump sum - €400 • 9% VAT rate for gas & electricity • Excise cut for petrol - €12 saving on a tank of petrol (€9 diesel) Pensioner €3,260 IN YOUR POCKET PUTTING MARRIED PENSIONER MARRIED COUPLE Working married, 2 earner, 2 @ creche Working Married, 1 earner, 1 @ sec school 1 @ college Working Married, 2 earner, 1 @ sec school, 1 @ primary school 1 @ creche • Tax Band & Credits - €965 • USC band increase - €41 • Student contribution charge (2022) - €1,000 • Student contribution charge (2023) - €1,500 • Child Benefit x 1 - €140 • Electricity credit - €600 • Reduced Public Transport - 20% • Reduced Public Transport (student) - 50% • Lower Medicine Costs€80pm max • 9% VAT rate for gas & electricity • Excise cut for petrol - €12 saving on a tank of petrol (€9 diesel) €4,246 IN YOUR POCKET PUTTING one earner - €55,000 one at secondary school one at college
COUPLEWorking married, 2 earner, 2 @ creche Working
1 earner, 1 @ sec school 1 @ college
2 earner, 1 @ sec school, 1 @ primary school 1 @ creche • Tax Band & Credits - €300 • USC band increase - €81 • Childcare package x 2€2,400 • Child Benefit x 2 - €280 • Electricity credit - €600 • Reduced Public Transport - 20% • Lower Medicine Costs€80pm
WHAT’S
MARRIED
Married,
Working Married,
two earning - €70,000 two at créche
PUTTING
IN YOUR POCKET
MARRIED COUPLE
Pensioner | Married
PUTTING
IN YOUR POCKET
• Tax Band & Credits - €1,580
• USC band increase - €81
• Childcare package x 1 - €1,200
• Child Benefit x 3 - €420
• Electricity credit - €600
• Free School Books - €190
• Reduced Public Transport - 20%
• Lower Medicine Costs€80pm max
• 9% VAT rate for gas & electricity
two earning
€95,000 one at primary school one at secondary school one at créche • Minimum Wage Increase - €1,622 • Tax Credits - €150 • USC band increase - €41
Electricity credit - €600
Rental tax Credit - €1,000 • Reduced Public Transport - 20% • Free GP care • Lower Medicine Costs - €80 pm max • 9% VAT rate for gas & electricity • Excise cut for petrol - €12 saving on a tank of petrol (€9 diesel) €3,413 IN YOUR POCKET PUTTING WORKING, SINGLE Working | Single Working | Single earning - €21,000 renter • Tax Band & Credits - €790 • USC band increase - €41 • Electricity credit - €600 • Reduced Public Transport - 20% • Lower Medicine Costs€80pm max • 9% VAT rate for gas & electricity • Excise cut for petrol - €12 saving on a tank of petrol (€9 diesel) €1,431 IN YOUR POCKET PUTTING WORKING, SINGLE Married Working | Single earning - €45,000 To see what the Cost of Living Budget means for you visit www.finegael.ie/Budget2023 These calculations only cover the main policy measures in Budget 2023. The estimates for income tax only cover changes to income tax bands and income tax credits and the USC band; no adjustments are made for pensions and other tax reliefs. CBrophy_COLB23_Oct22.indd 2 11/10/2022 10:41
• Excise cut for petrol€12 saving on a tank of petrol (€9 diesel)
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