The final cost-of-living package is expected to be approved by the whole Cabinet today after senior coalition officials met on Monday evening to finalise the proposals.
According to reports, the cost-of-living package would cost a total of €400 million and will comprise a lump sum payment of €200 to pensioners, carers, and people with disabilities; an increase of €100 in the Back-to-School Clothing and Footwear Allowance; and a payment of €100 in child benefits.
Subject to Cabinet approval, the total cost of the cost-of-living package is €1.25 billion.
For the last time, the 9% reduced VAT rate for the hospitality industry will be extended by six months, or until the end of August.
The excise duty on petrol and diesel will rise on June 1st, September 1st, and October 31st in three stages.
The price of petrol will increase by 6 cents on June 1, 7 cents on September 1, and 8 cents on October 31.
There will be a three-month extension to the temporary business energy support programme. Entry criteria is also changing to allow access for companies using, for example, heating oil.
The Ministers of Finance, Public Expenditure, and Social Protection attended this evening’s discussions with the three coalition party leaders.