From money from your energy bill to double social security payments – all considered for wasted budget

Taoiseach Micheál Martin has promised “significant supports” will be announced in the coming weeks to help households struggling to pay skyrocketing bills amid rising inflation.

These will be announced on September 27 as part of the €6.7 billion budget.

This year’s budget is significant because it will consist of two parts – the budget itself and a separate package of one-off cost-of-living measures that could total over €1.5 billion.

Here are the measures being considered by ministers as discussions begin at government buildings:

Another €200 electricity credit

The government signed a €100 electricity loan earlier this year as part of a cost-of-living package. This was later doubled to €200, costing taxpayers €400 million, and was deducted from electricity bills in the spring.

Green Party leader Eamon Ryan confirmed on Wednesday morning that the second loan before Christmas will be deducted from bills to offset the high cost.

Double child support payments

Despite criticism that the electricity loan is a blanket measure that does not target those most in need, ministers are also considering a one-off doubling of child benefit.

The move would be a huge boost for parents, who would pay 280 euros with one child and 560 euros with two children.

The Government hopes this would be a direct support to families and would also be done before Christmas.

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Energy bills will rise, but customers are expected to receive a one-off credit as part of the forthcoming budget package.

Double welfare

Treasury Secretary Paschal Donohoe and Public Expenditure Secretary Michael McGrath, who oversee state coffers, are also considering double-payment of all Social Security payments in the coming weeks.

The measure would target those on unemployment benefits who will be hardest hit by the skyrocketing costs.

Ministers are examining whether double payment of the state pension, unemployment benefit, care allowance and disability pension and other social benefits could be paid out. The payment is made in addition to the annual Christmas bonus payment to all social welfare recipients.

Double payment of social assistance rates is expected to be announced along with an increase in weekly social benefits, which could be up to €15 extra per week.

Tax breaks for landlords

The state is under pressure to act as an unprecedented number of landlords continue to sell and redeem their properties at prices on par with Celtic Tiger in the middle of a houseng lack. However, this is causing the rental market to shrink further, meaning tenants have fewer properties to live in.

Officials are considering a possible reduction in the high taxes landlords pay on their rental income, which can exceed 50 percent. However, they may only be able to benefit from new tax breaks if they offer long-term leases.

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Public transport fares were reduced by 20 per cent earlier this year and are expected to remain so or even be further reduced. Photo: Gareth Chaney/Collins Photos

Support for tenants

Last year’s budget was criticized for not aiming to help tenants in any way. This year, Housing Secretary Darragh O’Brien is keen to introduce support for tenants. The government is considering a tax credit for renters on their monthly expenses.

support for schools

The Taoiseach has also promised there will be support for schools facing very high heating bills. He hinted to reporters in Offaly yesterday that this could come in the form of additional funding from compound grants used towards day-to-day school expenses.

“Schools will need support to deal with energy costs in schools. Of course, the government will help with all of this,” Mr Martin said. “We will go as far as we can in terms of available resources and make sure we don’t make the inflation situation worse.”

help for companies

Calls have been made for pandemic-style payments to help businesses face astronomical energy bills. A coffee shop in Athlone received over €9,000 in electricity bills for a month. Ministers are understood to be considering one-off corporate loan payments for smaller businesses.

public transport

Public transport fares were cut by 20 per cent earlier this year as part of the first cost-of-living package, in what is seen as a win for the Greens. Independent.ie understands that this cut is likely to remain or even be reduced further as part of the budget.

https://www.independent.ie/business/budget/from-money-off-your-energy-bill-to-double-social-welfare-payments-everything-under-consideration-for-giveaway-budget-41969182.html From money from your energy bill to double social security payments – all considered for wasted budget

Fry Electronics Team

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