Budget 2022: What to expect from today's big announcement 8 months ago

Budget 2022: What to expect from today's big announcement

Funding to recruit 800 gardaí, a rise in the weekly fuel allowance and an increase in cigarette prices are expected in the budget.

Budget 2022 will be unveiled on Tuesday afternoon (12 October) by government and details of what is expected have already been well flagged before the announcement.

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According to reports, the budget is set to be a €4.7 billion package, with €1 billion in new spending and €500 million euro put aside for tax cuts.

It is anticipated that there will be an increase of €5 in the main weekly welfare payments and state pension announced in Budget 2022, with the weekly fuel allowance payment also set to rise by €5.

This is as documents published by the Government's Tax Strategy Group last month suggested the carbon tax could be increased by another €7.50 this year to €41 per tonne, hiking up the cost of petrol, diesel and home heating fuels.

Added measures to support employees working from home are reported to be a feature in the budget, while it's understood that reduced fares on public transport for younger people will be introduced.

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Though an increase in tax on the price of alcohol is not expected in the budget, cigarette prices are set to rise.

The package for the Department of Justice is also reported to include funding to recruit 800 more gardaí.

Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath will announce Budget 2022 from 1pm.