The cost of living in Ireland is on the rise with everything from energy bills to petrol and pints seeing an increase over recent months.
The government is working to lay out a plan for the reduction of certain charges in Ireland to ease the financial strain as a result of inflation.
As well as cutting costs, officials will be evaluating what tax and other social welfare benefits could play a role in easing the current money issues faced by many families.
There are many expenses being looked at by Finance Minister Paschal Donohoe, but the final decision has not been made.
So, as we await a detailed plan in response to the rise in the cost of living, here is everything we know so far.
Energy bill credit
Irish households will be given €100 on their energy bills in March, according to the government.
However, there will reportedly be talks about increasing this to €200, with some saying the original amount wouldn’t make a dent.
Fuel Allowance
Aside from the planned energy credit, it is also understood that Social Protection Minister Heather Humphreys is looking into whether the fuel allowance season could be extended.
Adding an extra few weeks would allow people to benefit more under the scheme.
Medical expenses
Another area that may see a change is for people who are medical cardholders.
There may be some leeway to expand the programme, allowing more people to claim the benefit.
The cost of healthcare is a subject regularly contested in Ireland, and it is understood that there may be a reduction in the cost of visiting the emergency department and for prescription fees as well.
Income Tax
Speaking on Friday, Minister Paschal Donohoe said his priority is to lower the number of people paying higher rates of income tax.
At the moment, the current tax rates are 20% and 40%.
Your income up to €36,800 you will be taxed at the ‘standard rate’ of Income Tax, which is currently 20%.
Any income above your standard rate band is taxed at the higher rate of Income Tax, which is currently 40%.
Third level fees
The Irish Independent today revealed that third-level college fees may also be subject to changes in the coming years.
The amount per annum per student could be reduced as a way of cutting costs.
The average fees for most third-level colleges or universities in Ireland each year sits at €3,000 in 2022.
Motor tax
Irish drivers may be able to save on their motor tax soon as well. A reduction in the annual cost is also being hashed out, but there is no indication just yet if this will come through.
The current rates of motor tax in Ireland range from €120 to €2,350 depending on the carbon emissions per kilometre.
ID’s
The charges associated with your driver’s licence and passport renewals will be debated, and if it is feasible, reductions will be made.
In 2022, the cost for a driver licence fee is €55 while renewing your passport is €75 for a 10-year passport or €35 for a passport card.
