The Government has announced an €11bn ‘cost-of-living’ budget package – but what does it mean for your pocket?
There were wins for parents and families with childcare fees to be slashed by 25%; however, pubs and restaurants will be less happy, with the VAT rate set to return to 13.5% from March 2023.
You can see the full breakdown of everything Minister Donohoe announced here.
Meanwhile, everything announced by the Public Expenditure Minister Michael McGrath is available here.
What does it all mean?
Newstalk’s Budget23 partner Grant Thornton has crunched the numbers and come up with eight fictional ‘personas’ to find out what it all means for the person on the street.
From a single person on the average wage to a family with two children or a single parent, we have you covered.
You can find all eight scenarios below:
Single person on the average wage
Single person on a high income
Single parent on €50,000
Average income family
Self-employed on €150,000
High-income family | Scenario One
High-income family | Scenario Two
Squeezed middle-income family
Newstalk's business editor @JoeBLynam answers your #Budget2023 questions. With thanks to @GrantThorntonIE. pic.twitter.com/ht08MkmS1m
— NewstalkFM (@NewstalkFM) September 27, 2022
