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Cost of living package to be announced in October's budget

Jul 26, 2023 11:11 By News Northern Sound
Cost of living package to be announced in October's budget
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The Taoiseach insists there will be measures in the budget to help with the cost of living and to reduce income tax.

The Government is promising further supports to deal with high energy costs as part of next year's budget. Taoiseach Leo Varadkar says supports for households and businesses will be announced as part of a cost of living package to be announced in October.

Energy bills remain high, as falling wholesale prices aren't yet being passed on to consumers.

Energy Economist at the ESRI, Muireann Lynch, says ministers could opt for a more targeted approach compared to universal measures introduced last year:

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"If you want to focus heavily on using the tax and benefit system to give supports to households then that actually is the best way to target lower income households, but of course it does nothing to actually bring the bill down directly," she explained.

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