Ireland

Varadkar signals ‘significant’ cost-of-living package one week from Budget

Taoiseach Leo Varadkar (Brian Lawless/PA)
Taoiseach Leo Varadkar (Brian Lawless/PA)

Taoiseach Leo Varadkar said the Budget will contain a “significant” cost-of-living package as he summarised what people could expect in the Budget.

Speaking at a press conference in Dublin, Mr Varadkar said the Budget is not likely to be finalised before Sunday night and is then subject to Cabinet approval on Tuesday.

While warning against speculating on budgetary measures, the Taoiseach added: “What I can say is that it will contain an income tax and USC package which will reward work and put money back into people’s pockets.

“The amount you gain will depend on how much you earn and your circumstances, that’s always the case.

“There will be a significant cost-of-living package which people will feel the effect of before Christmas because petrol/diesel prices are high, energy prices are still high, gas prices are still high.

“There will be help for business and farms because of the high costs they’re facing.

“There will be a focus on children and you’ll see that in the social protection area, education and childcare.

“And of course, there’ll be additional resources for law and order.”

The Budget is due to be unveiled next Tuesday October 10 and Government has signalled it will include pension increases, welfare increases, and a further rise to the minimum wage.

Mr Varadkar has previously said one-off measures in the Budget will be smaller in scale than last year.

He said this was because inflation has moderated and wage increases across the economy have outpaced rising prices since last year.