Budget 2023 to include ‘one-off measures’ to help a ‘difficult winter’ – Treasury Secretary Paschal Donohoe

Treasury Secretary Paschal Donohoe said the 2023 budget will include one-off measures this calendar year to help with rising living costs during what could be a “tough winter”.

Minister Donohoe said the government will take measures to help households cope with rising inflation rates.

The budget is said to be €6.7 billion and Minister Donohoe said he had “no plans at all” to change that figure.

“Budget 2023 will include personal taxation measures that recognize that families and households are working really hard right now that the rising cost of living is biting, and we want to help with some of the higher costs many are facing,” he said.

“We will have a personal tax package to help with that. In relation to the content of this, I recognize that if you have a normal or average income, here in Ireland you are entering the higher rate of income tax.

“And that’s very different from a lot of other economies that we compete with, and budget by budget I’ve changed that, and what we’re going to do in the coming weeks is figure out how best we can do that again.”

Minister Donohoe said it will be “difficult” to make changes to personal taxation this year as every employer will have to change their payroll systems.

“The critical point here is that the Government confirmed and announced earlier in the year that under the 2023 budget we would have tax changes of just over €1 billion and that is exactly what we will do,” he told Morning Ireland by RTÉ.

“We know many are feeling the pressure, we know that the money in your wallet isn’t getting you what you used to be able to get and we want to see how we can help you with that.

“At a time when wages are rising, we believe we should do everything we can to help workers keep as much of the money as they make.

“The goal is how we can change personal taxation in a way that I think is affordable, in a way that I’m confident will not create further risks in the future, but also in a way that will change in 2023 can help.”

https://www.independent.ie/news/budget-2023-to-include-one-off-measures-to-help-a-difficult-winter-finance-minister-paschal-donohoe-41904630.html Budget 2023 to include ‘one-off measures’ to help a ‘difficult winter’ – Treasury Secretary Paschal Donohoe

Fry Electronics Team

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