Budget 2022 – A brief guide to what you need to know

Clara Kelly

A quick guide to some of the main talking points.

Minister for Finance Paschal Donohoe has delivered his Budget for 2022 to the Dáil.

Speaking in the Dáil on Tuesday, Donohoe said the Budget will help “those concerned with the rising cost of living”.

“For those worried about whether they can own a home or afford their rent, this Budget will support you – and for businesses looking to the future, this Budget will back you,” he added.

Here are some of the key changes:

The minimum wage in Ireland will be increased by 30 cents per hour, bringing the hourly minimum wage rate in Ireland to €10.50.
The cut-off point at which the higher rate of tax applies has been increased by €1,500.
Tax credits are also set to be raised by €50 over the coming year. (This change is estimated to be worth about €300 a year for the average Irish worker.)
There will also be an increase in excise duty on a pack of 20 cigarettes by 50 cents, with a pro-rata increase on other tobacco products, bringing the price of cigarettes in the most popular price category of up to €15.
Free contraception starting with those aged 17-25.
Plans for 800 new Gardaí.
€3.4 billion focused on improving transport and implementing schemes such as DART+ and Nitelink.
Travel card available for those aged 19-23 also allowing young people to avail of a 50% discount on public transport.
The €250 contribution scheme for third-level education will be abolished.
€5 increase for social welfare for jobseekers and pensioners.
The establishment of a Covid-19 contingency fund worth over €4 billion.
Increase in the SUSI grant for the first time in 10 years.
Extension of childcare subsidy to under 15s.
Recruitment of 8,000 extra healthcare staff and €30 million to the Department of Health aimed at improving palliative care, mental health and disability services.
Free GP care to be expanded to under 7s.
A dedicated women’s health package worth €31 million.
Carbon tax and a new range of climate measures.