Budget Childcare Cost Cuts Worth Up To €2,000 For Some Families

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Budget 2023

Parents of primary school students are to be boosted by a budget break with all school books to be covered by the state from next September.

The €50m government move will be implemented on a permanent basis.  This will be worth up to €2,000 a year under the National Childcare Scheme.

Major investment is also expected to allow for reductions in class sizes as part of a €10 billion package of inflation battling measures expected in tomorrow’s budget.

College students will see a €500 reduction to the €3,000 fees to be introduced.

Renters are in line for some once-off tax breaks of around €400, in two likely tranches.

Elsewhere and cuts of up to 25% are expected to ease the burden of childcare fees,

While the government is also expected to increase the threshold at which the higher rate of tax is paid, with expectations that it could reach as high as €40k.

Increases of €20 to social welfare payments have been ruled out, with €15 reported to be the more likely hike to the rate.

It’s likely companies will be given back a percentage of the increased cost of energy, and will have to submit 2021 bills to Revenue