Some positive news.
It has been confirmed that the minimum wage in Ireland will be increased by 30 cents per hour.
The change announced as part of the 2022 Budget on Tuesday (12 October) will bring the hourly minimum wage rate in Ireland to €10.50.
Minister for Finance Paschal Donohoe also announced that 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.
Donohoe added that 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.
“This will bring the price of cigarettes in the most popular price category of up to €15,” Donohoe confirmed.
Free contraception starting with those aged 17-25 was also announced as well as 800 new Gardaí.
There will also be €3.4 billion focused on improving transport and implementing schemes such as DART+ and Nitelink. There will also be a 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 also be abolished and there will be a €5 increase for social welfare for jobseekers and pensioners.
“For those concerned with the rising cost of living, this Budget will help you,” Donohoe added.
“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.”
Main Image: Sasko Lazarov/RollingNews.ie.
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