Budget 2023 Ireland

Budget 2023 Ireland|GP Card Budget 2023

gp card ireland|gp visit card ireland|gp visit card budget 2023|temporary business energy support scheme|carers support grant budget 2023|ce scheme budget 2023:Budget 2023 is unique given its ‘budget-within-a-budget’ nature — with €4.1 billion in one-off measures turbocharging a €6.9 billion ordinary package in an effort to insulate voters from the cost of living crisis — along with €300 million from the Covid reserve fund. Here is what is once-off and what’s going to be permanent or longer-lasting, and the economic backdrop.

Minister for Finance Paschal Donohoe said headline inflation will be 8.5 per cent this year and just over 7 per cent for 2023. Core inflation, which strips out energy impacts, is now expected to be 5.25 per cent this year and just over 4.5 per cent for next. The forecast for modified domestic demand, which measures the domestic economy, was cut to 1.25 per cent for next year.

The unemployment rate is expected to remain at low levels, Mr Donohoe said, despite the headwinds, and the recovery in tax receipts is “broad based” and up by over €10 billion on 2021, he said, including income tax take. The general surplus will be €1 billion, or 0.5 per cent of national income this year, and €6.2 billion or 2.25 per cent for next year. He said much of this was due to excess corporate tax, which could change at short notice — with €20 billion expected under this heading by the end of the year.

Budget 2023 Ireland

A double Child Benefit payment (worth €140 per child) will be paid in November.A once-off double week “Cost of Living Support” payment to all social welfare recipients in October – the normal Christmas Bonus will also be paid in early December.Extra €500 for Working Family Payment and Carer Support Grant recipients in November.Once-off payment before Christmas of €200 to recipients of the Living Alone Allowance and €500 to those on Disability Allowance, Invalidity Pension and the Blind Pension.

Social protection (changes for 2023)

  • €12 per week increase for every social welfare recipient, including pensioners.
  • Weekly Fuel Allowance means limit for over 70s extended to €500 for single people, €1,000 for couples.

Tax changes

  • Entry point for paying higher 40% income tax rate is increased (by €3,200) to €40,000 a year while main tax credits rise by €75.
  • Home Carer Tax Credit increases by €100, to support stay at home parents.
  • Second USC rate band (2% rate) will rise from €21,295 to €22,920.

What does this mean for me? A single person with no children earning €45,000 will be €831 better off a year while a single person on Minimum Wage will gain €1,225 a year. A married couple with two children and one income of €35,000 should be €1,028 better off while a married couple with two children and two incomes (earning around €85,000 between them) will have €1,660 more a year in their pockets.

Energy assistance

  • €600 in electricity credits for all households to be paid in three instalments of €200.
  • Fuel allowance payment recipients to receive an extra lump sum of €400 before Christmas.

Housing/rent

  • Help-to-Buy scheme will continue, at current rates, until the end of 2024.
  • Taxpayers who rent will receive a new rent tax credit valued at €500 per year from 2023 – it can also be claimed in respect of rent paid in 2022.
  • A new Vacant Homes Tax is being introduced for residential properties which are occupied for less than 30 days in a 12 month period.

Childcare

Funding to support a reduction of up to 25% in the weekly fee for those using the National Childcare Scheme – this should result in up to €175 a month savings for parents in 2023.

Healthcare

  • All inpatient hospital charges will be abolished.
  • Free GP care extended to more than 400,000 people. This pledge includes, by the end of 2022, all children aged six and seven.
  • Expanding free contraception from women aged 17 to 25 to all those aged 16 to 30 years.

Education

  • Reduction of pupil-teacher ratio in primary schools to a historic low of 23:1
  • Free primary school books for all children from autumn 2023
  • Additional 686 Special Educational Needs teachers and 1,194 Special Needs Assistants
  • €100 million to help schools deal with rising energy costs in 2022
  • School Meals Programme extended to an additional 310 schools

GP Card Budget 2023

A Kerry-based general practitioner (GP) has given a cautious welcome to the Government’s decision to expand free GP visit cards under Budget 2023.The new scheme is expected to benefit over 400,000 patients, nationally.Dr Eamonn Shanahan of the Farranfore Medical Centre said the announcement is like ‘motherhood and apple pie’ in terms of populism by Government, warning that medical services must keep pace with the rise and intake of extra patients.

Dr Shanahan explained that the long-term target, by 2026, is to have an intake of 350 trainee GPs. Currently, this figure is at 250. The problem, he said, is that the 350 trainees will not be working in the system until 2030.“To be fair, the numbers are increasing year on year. This year we have an intake of 250 and last year it was 240 GPs,” said Dr Shanahan.“It is going up incrementally, but the problem is there are also a lot of GPs who are due to retire. Short-term, there are certainly going to be issues with this scheme

temporary business energy support scheme

The Temporary Business Energy Support Scheme or TBESS is a €1.25 billion programme of financial aid for businesses being hit with soaring energy costs. It will be administered by the Revenue Commissioners which will draw on its experience of administering various Covid support schemes since 2020. 

Who can apply?

Any business in the country can apply as long as they can show that the unit cost on their electricity or gas bills has gone up by 50pc or more this year compared to the same period last year.

“So if the unit cost of electricity or gas has gone up by 50pc or more in the past year, you qualify,” Tánaiste and Enterprise Minister Leo Varadkar explained at a press conference on Tuesday.

“That’s pretty much every business, there’s a small number of businesses that are in long-term contracts with very low energy prices, but that’s not common.”

Mr Varadkar said that “potentially the majority of businesses in Ireland” will apply for the scheme.