The Government announced a €290 million package of measures designed to address rising costs and inflation on Thursday, with the “centrepiece” a cut in the electricity bill of every household of €200.
Public transport fares are set to be cut by 20 percent from April for the rest of the year and the Government has also reduced caps for multiple children on school transport fees to €500 per family for post-primary schools and €150 for primary school children.
People already in receipt of the fuel allowance are set to receive an additional payment of €125 and the working family payment increase announced in the Budget will be brought forward from June to April.
Those eligible for the drug payment scheme, which places a cap on the maximum a family can pay on medicines a month, will see the limit reduced from €100 to €80.
Outlining the measures on Thursday evening, Minister for Public Expenditure and Reform Michael McGrath said the fuel allowance payment will be made in March, while the electricity credit of €200 will be applied to accounts in April.
Minister for Finance Paschal Donohoe said the rate of inflation seen in the past few months “has exceeded our expectations, mainly because of higher energy prices.”
“While we expect the inflation rate to moderate from the second quarter of this year, it is nonetheless appropriate to respond to the increase in prices, and today we are doing this,” he said.
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