Finance Bill 2022: Second Stage
Seanad Éireann — 2022-11-29
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Mary Seery Kearney (FG), Nominated by the Taoiseach

This is a cost-of-living budget. We have to consider within it that it is also a reaction to all that is going on in Ukraine, including the deliberate use of economics as a weapon of warfare and a weapon of murderous intent.
Among the tangible differences for families as a consequence of this budget, for example, in my constituency of Dublin South-Central, a working single parent earning €21,000 will have €3,413 more in his or her pocket in 2023. How will that person have that? His or her wage will have been increased by a minimum of €1,600 as a consequence of the changes to the tax credits, which will be up by €150, the USC band that will be increased by €41, and the electricity credit that we will have had throughout the winter will assist that person's family and home. If that family are renting, their rental tax credit will be €1,000 and if they are relying on public transport, there will be supports in the order of 20%. They will have free GP care. There is significant support for that single person who is working and renting.
For a family with two people working who are a married couple, with one child in secondary school and maybe another in college, the amount in their pockets will increase by €4,246 in 2023. Their tax bands and credits will increase by nearly €1,000, their USC band will increase, and their student contribution support for 2022 has gone up by €1,000 and will go up by €1,500 in 2023. They will have an extra month's child benefit, their electricity credit, and their public transport assistance which, for a student, is not 20% but 50%. Their medicine costs are maxed at €80 per month. Cuts in excise and ensuring we only have a 9% VAT rate on our utility bills is a significant contribution to that family as they face into 2023. If 2023 holds even worse news than 2022 regarding the challenges arising out of Ukraine, the aftermath of the Covid pandemic and challenges in the supply chain, there is money in the bank-----

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Retrieved: 2026-08-14T04:51:20+00:00
Sitting date: 2022-11-29