Financial News

Your Guide to Budget 2023

This guide from the Irish Government provides a high-level overview of Budget 2023. It aims to explain how money will be raised and spent in 2023.

Social Welfare

  • Weekly social welfare rates will be increased by €12 for working age recipients.
  • There will also be a €12 increase in weekly payments for pensioners.
  • The Working Family Payment threshold will increase by €40.
  • There will be a €2 increase in the weekly rate for a qualified child qualified child.
  • There will be an increase in eligibility for Fuel Allowance.
  • A €500 lump sum for families availing of the Working Family Payment , a €500 lump sum for carers , a €500 cost of disability payment and a €20 increase in the domiciliary care allowance for sick children.


  • All inpatient hospital charges will be abolished.
  • GP visit cards will be provided to those on or below the median income (340,000 additional people).
  • There will be a €2 increase in the weekly rate for a Qualified Child.
  • The Drug Payment Scheme threshold will remain at the lower rate of €80 in 2023.
  • Funding will be provided to provide access to IVF treatments.
  • Free contraception will be available for all women aged between 16 and 30.

Childcare and Education

  • There will be a Free School Book Scheme for primary school pupils from autumn 2023.
  • Over 660 additional mainstream teachers, over 1,190 SNAs and 680 special education teachers will be provided.
  • The National Childcare Scheme hourly subsidy is to increase from 50c to €1.40.
  • There will be a €500 increase in post-graduate contribution grant for eligible families.
  • Over 4,800 additional places on craft and consortia-led apprenticeships and 4,000 places on craft apprenticeship programmes will be supported.


  • Funding will be made available to support 8,800 new HAP tenancies and 800 RAS tenancies.
  • 9,100 new-build social homes, 5,500 new affordable homes for sale and rent and 6,500 new social homes will be supported.
  • Funding to deliver 37,000 home energy upgrades.

Other Measures

  • 1,000 new Garda and 430 Garda staff will be provided.
  • The 20% fare reduction on public transport will be extended to the end of 2023.
  • A €1.2 billion package of supports for businesses hit by soaring energy costs.

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