The Budget 2021 was delivered to the nation this afternoon, with some positive and negative news will affect your pocket directly.
A number of new changes were announced by Finance Minister Paschal Donohoe and Minister for Public Expenditure Michael McGrath at the Convention Centre in Dublin on Tuesday.
Both Ministers emphasised that this Budget was based on Covid-19 being around for the next year without a vaccine, and under the assumption that Britain would have no free trade deal with the European Union.
Mr Donohoe said: "Our message is clear, yes the test we face is daunting. Further demanding choices await. Yes, the uncertainty is and anxiety about the future of lives and the future of livelihoods is great.
"And yes, we will prevail. We will come through this. And from the ashes of the pandemic together, we will build a stronger and more resilient Ireland.
"Budget 2021 is a bridge to that future."
Here is 11 ways that Budget 2021 will affect your pocket:
1. Fuel prices
The Irish public will face major fuel hikes from tonight as carbon tax increases by €7.50.
The tax brings the price from €26 to €33.50 per tonne of auto fuels from midnight on Tuesday.
The cost of other fuels will increase from May 1.
2. Working from home
Broadband for those working from home can now be claimed as a taxback relief.
It is part of a range of new supports for people working from home that have been unveiled in the "Covid Budget."
Up to €3.20 for utility expenses may also be paid to people each day.
3. Cigarettes prices
Cigarettes will go up by 50 cent a pack for 20 smokes, bringing the average cost of a packet to €14.
Paschal Donohoe said he is bringing in the latest hike to “support public health policy.”
4. Qualified Child Payment
Michael McGrath has hiked the Qualified Child Payment by €5 a week for Over 12s and €2 a week for Under 12s.
5. Living Alone Allowance
The Living Alone Allowance has been put up by €5 to €19 a week.
6. Fuel Allowance
Fuel allowance is up by €3.50 a week to €28 a week, a significant help for pensioners.
7. Carer Support Grant
The Carers’ Support Grant will rise by €150 a year to €1,850.
8. Christmas Bonus
The 'Christmas Bonus' is to be paid to those on Pandemic Unemployment Payments, and other forms of welfare.
Anyone who has been on it for four months instead of the usual 15 months will be eligible for the payment for this year only.
The exact date when this payment will be paid has not yet been confirmed although it is expected to be around December 7.
9. Wage Subsidy Scheme
The Government has applied for EU funding towards wage subsidy scheme.
This could result in Ireland accessing around €2billion to help employers.
The scheme will continue passed its March 21 deadline, with the Minister stating "there will be no cliff edge to this vital scheme."
10. Boost for temporarily closed businesses
Businesses that have been forced to close temporarily due to Government restrictions will be eligible to receive up to €5,000 per week.
The new scheme for businesses aims to provide support for those forced to temporarily shut during the pandemic as a result of restrictions.
This primarily affects the entertainment sector, and included bars and restaurants.
Government will make payment based on a businesses' average 2019 weekly turnover, up to a maximum of €5,000.
11. Hospitality VAT cut
VAT for restaurants and the hospitality sector, which was controversially hiked last year, will be cut from 13.5% to 9% from November 1 until the end of 2021.
