Dáil Éireann Debate, Wednesday - 13 July 2022
327. Deputy Ged Nash asked the Minister for Social Protection the estimated cost to the Exchequer of an extra month child benefit payment with an increase in 2022 rates by €10, €15 and €20 respectively; and if she will make a statement on the matter. [38774/22]
View answerThe estimated cost of providing an extra month Child Benefit is shown in the table below:
|
Rates |
Cost of an Extra Month €m |
|
€140 current rate |
170.4 |
|
€150 (€10 increase) |
182.6 |
|
€155 (€15 increase) |
188.7 |
|
€160 (€20 increase) |
194.8 |
The annual cost of an increase in Child Benefit based on the rates requested is shown in the table below:
|
Proposed Rates |
Annual Cost €m |
|
150 (€10 increase) |
146.3 |
|
155 (€15 increase) |
219.5 |
|
160 (€20 increase) |
292.6 |
These costings are based on 2022 recipient numbers and are subject to change in light of emerging trends and subsequent revision of the estimated number of recipients. Any increase of Child Benefit rates would need to be considered in an overall budgetary and policy context.
I trust this clarifies matters for the Deputy.
