Minister for Finance Paschal Donohoe has said that the Government would be announcing a new support system for employers who are facing challenges regarding the rising cost of energy in Budget 2023.
The Minister was speaking as he arrived at Government Buildings ahead of the budget announcement. Mr Donohoe said that the priority would be to protect jobs.
“I expect the measures will make a real difference to households and businesses at a time when they need help,” he said.
Tánaiste Leo Varadkar said Budget 2023 would offer some permanent changes that will help with the cost of living in the long term, reductions in the cost of childcare, putting a child through education and college.
“It’s designed to put money back in people’s pockets, to help people in business with the cost of energy and some permanent changes that will help with the cost of living in the long term. It’s about restoring confidence in the economy. This is being financed because we have a strong economy, not like across the water. It’s not being funded by borrowing,” he said as he arrived.
Minister for Social Protection Heather Humphreys said the budget would focus on “putting money back in people’s pockets, and I’ve a particular focus on people who have disabilities, carers, people who are working and pensioners.”
Minister for the Environment, Climate, Communications and Transport Eamon Ryan said: “It really is a Budget to protect people through the winter and it can never be enough as we’re facing very high bills, we’ve done everything we can to try and help. Increased social welfare for those who are most at risk, help in energy credits for everyone, help in business supports, help people hold on to their jobs, help in free school books, college fees, the whole range, continuing the lower cost public transport, lower child care costs, there’s a lot in it, a whole variety of strands. Helping us through this winter is what this budget is about.”
Minister for Finance Paschal Donohoe is due to begin his speech in the Dáil chamber at 1pm followed 45 minutes later by Minister for Public Expenditure and Reform Michael McGrath.
The total size of additional spending and tax measures in the budget and package of one-off measures is now expected to be close to €11 billion.