Budget 2023 To Be Brought Forward To September 27th

Monday, 4 July 2022 16:47

By Caoimhe Harney

An overall package of €6.7 billion is expected.

The budget will be held two weeks early on September 27th after agreement from Ministers this afternoon.

An overall package of 6.7 billion euro is expected to be confirmed in the Summer Economic Statement this evening.

Though the opposition wants intervention much sooner the budget will be two weeks early on September 27th.

Of a planned 6.7 billion euro package it's expected a billion will be spent on tax band measures, including changes to income tax.

New spending will be somewhere between two and three billion euro - with the Government breaking its own rule of not increasing Government spending by more than 5 per cent, with the final figure landing somewhere between a 5% and 7% increase.

Politically the Government parties intend to spend that money on social welfare increases, tax indexation, and cuts to public transport fares.

A double social welfare bonus, a second electricity credit and a focus on the State pension are also being discussed.

But the budget is still two and a half months away, and the opposition is set to demand further intervention before then.

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