Budget 2023 is just weeks away as the Government continues to discuss possible measures to tackle the cost of living crisis.
Among the measures under consideration is an energy payment of up to €500, a once-off double Child Benefit payment in December and a boost to social welfare payments.
Up to €1 billion is expected to be allocated as part of the Government's " Cost of Living Budget", which is separate from the €6.7 billion already allocated to Budget 2023.
With that said, here is a closer look at what to expect in this year's Budget .
Energy payment
According to CSO figures, electricity costs jumped by more than 86 per cent in 12 months, which has already led to spiralling household energy bills.
To combat this, the Government is to consider a rebate on energy costs to combat the growing strain on families to power their homes.
The new payment under consideration could amount to €400 or €500 and would be paid between November and March.
The measure is expected to replace Tanaiste Leo Varadkar's proposed new tax band rate, which would have given middle-income employees earning €40,000 an extra €1,000 in their annual take-home pay.
It is believed that the new tax brand was rejected as it would not impact those most at risk of falling into poverty due to the cost of living crisis.
The last energy rebate of €200 paid to every household in the country last April was a huge success, so it is hoped that the same result would be achieved by the new measure should it be approved.
Social welfare change
The Government are to consider a potential hike of at least €10 in pension and welfare payments .
This comes as one of the biggest reductions in income tax in almost a decade is to be introduced in this year's Budget.
Finance Minister Paschal Donohoe published the Tax Strategy Group papers, which stated plans to be examined by the Government during the last month of budget negotiations.
All of the social welfare packages outlined in the Tax Strategy Group papers include a double-digit increase in weekly payments ranging from €10 to €15.
The first of which recommends a €15 increase across all payments, which would cost the State around €1.1 billion.
This would mean the majority of people receiving social welfare payments would receive €223 per week, while a person on the State pension would see their pay packet increase to €268 per week.
Another option under consideration is a €10 increase in all welfare payments along with a €10 hike in the Fuel Allowance and Living Alone allowance.
Child Benefit
The Government is also to consider a once-off double payment of the monthly €140 child benefit sum as part of a cost-of-living package to be announced on Budget day.
Those in receipt of a child benefit payments could be in line for a €280 one-off payment if they have one child or €560 if they have two.
If the Government agrees to the policy, parents will receive a huge boost, with a family with three children eligible to receive €840.
A family with twins would also get €840 as they receive one-and-a-half times the normal rate per child.
The plans under consideration by Finance Minister Paschal Donohoe, Public Expenditure Minister Michael McGrath and Social Protection Minister Heather Humphreys could see the payment made before Christmas.
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