While some of budget measures kicked in almost immediately, others take effect from today.
ON 27 SEPTEMBER, the measures in Budget 2023 were announced by Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath.
The Community Employment , Tús and Rural Social Scheme top up payment will also increase by €5 from €22.50 to €27.50. The weekly income threshold for the higher rate of employer’s PRSI has increased from €410 to €441. This is to ensure that there is no incentive to reduce the working hours for a full-time employee on the increased minimum wage.The National Childcare Scheme subsidy has increased from €0.50 per hour to €1.40 per hour, which means up to an additional €40.50 reduction in weekly childcare fees for parents.
Meanwhile, a reduced VAT rate of 9% for the hospitality and tourism sector will continue until 28 February. It was originally proposed as a 10% levy on concrete blocks, pouring concrete and other concrete products, but has since bene reduced to 5%.The income limit for the GP visit card will also be increased in April to include people on a median household income of €46,000 or less.
Free schoolbooks will be primary school students from September 2023, and the income threshold for the 50% student contribution grant will increase from €55,240 to €62,000 per year.
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