While the Finance Minister has promised core increases for weekly payments, he also shared that it is unlikely that Budget 2025 will contain cost of living bonus payments like recent years
Budget 2025 is still months away, but ministers have already revealed the measures that they are looking at.
Mr McGrath said pensioners would not see a “step back” on last year’s increase in social welfare rates which went up by €12, so it looks like pensioners will be getting at least a €12 weekly increase in Budget 2025.However, any potential increases look like they will be coming at the cost of any extra payments, with the Minister telling the Sunday Independent that the cost of living bonuses that were seen in the last number of budgets are unlikely to be rolled out again.
He added: "“On the basis that our economy continues to perform well, and that we manage the public finances responsibly, we will be able in Budget 2025 to have a substantial income tax package, and a strong social welfare package, and also to invest more in public services."
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