A number of changes announced in Budget 2022 will come into force as we enter the New Year.
Those on minimum wage will see some extra money in their pocket, while increases in social welfare and pensions payments are also on the horizon.
The Living Alone and Fuel Allowances are also getting a hike, while the period for the Parent's Benefit has been extended by two extra weeks.
Here are some of the changes that could affect your pocket next year:
- The minimum wage will increase to €10.50 per hour
- There will be a 2% rise in personal tax credit, employment tax credit, and earned income credit for self-employed people
- Social welfare payments will increase by €5
- The State pension payment will increase by €5
- The weekly rate for a qualified child will increase by €2 for children under 12 years of age. It will increase by €3 for children aged 12 years and over
- The income threshold for Fuel Allowance will increase by €20
- The Living Alone Increase will rise by €3
- Free GP care will be extended to children up to the age of 7
- The National Childcare Scheme universal subsidy will be extended to all children aged up to 15
- A new travel card for those aged 19 to 23 will be introduced, with cover of up to 50% off
- The threshold for the Drug Refund Scheme will also be lowered from €114 to €100.
