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Taoiseach says core Government...

Cork

Taoiseach says core Government spending will increase by 6.5 per cent this year in a bumper cost of living budget

RedFM News
RedFM News

06:15 4 Jul 2022


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Core Government spending will increase by 6.5 per cent this year in a bumper cost of living budget.

Ministers have confirmed September 27th will be the day they announce Budget 2023.

In total 6.7 billion euro extra will be spent next year - with 2.7 billion available for new measures.

A billion euro will be set aside for taxation measures - double what was expected.

Minister Paschal Donohoe has flagged he intends to implement changes to income tax bands to ensure people keep more of any pay rise they may get this year.

Taoiseach Michael Martin says they will attempt to alleviate pressures on people getting it tight:

We are in the context of a unique set of circumstances coming out of COVID-19 Supply Chain difficulties, imbalance , between supply and demand which created his own inflationary cycle and then the war in Ukraine has been very dramatic in terms of its impact on energy prices which is fed into the broader economy. So we do have to, through a combination of budgetary and temporary measures, try to alleviate the pressures on people."

 


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