Extra cost of living subsidies of up to €1b planned for Budget 2023

Up to €1 billion is expected to be allocated in the upcoming Budget in a series of once-off measures to help tackle the cost of living crisis.

A double child allowance payment is being considered for December, while another energy credit could be issued, to help households deal with spiralling electricity costs.

The €1 billion, part of the Government's "Cost of Living Budget", will go towards once off payments separate from the €6.7 billion already allocated to Budget 2023.

The Irish Times reports that while the exact size of the once-off measures have not been agreed upon yet, the extra subsidies are expected to kick in this year, rather than the following year as traditionally.

Bilateral meetings at ministerial level on Budget 2023 will accelerate in early September, with both the cost-of-living package and the wider budget expected to be nailed down ahead of the budget at the end of the month.