Child benefit is paid to almost 632,000 qualifying adults in respect of over 1.2 Million children with an annual cost in 2018 of €2.1 Billion.
Given the universality of Child Benefit, introducing a double entitlement to parents on the birth of a child would not be a sufficiently targeted approach. Furthermore, the introduction of such a proposal would have significant cost implications and would have to be considered in an overall budgetary context.
The estimated full year cost of issuing a double child benefit payment to parents on the birth of a child is approximately €8.72 Million.
This estimate is based on the number of child benefit claims (61,856) received in respect of first and additional children in 2018. It assumes the payment of €140, representing an additional month’s payment in respect of these children. Multiple births are paid a higher rate and this additional cost has been factored in to the estimate.