Dáil Éireann Debate, Tuesday - 25 July 2023
741. Deputy Sean Sherlock asked the Minister for Social Protection the cost of increasing child benefit by €10 per month; the projected cost of providing a double payment of the existing rate in September; and if she will make a statement on the matter. [36757/23]
View answerChild Benefit is a universal monthly payment made to families with children up to the age of 16 years. The payment continues to be paid in respect of children until their eighteenth birthday who are in full-time education, or who have a disability. Child Benefit is currently paid to over 650,000 families in respect of over 1.2 million children with an estimated expenditure of more than €2.1 billion in 2023.
The estimated cost of increasing the monthly rate of Child Benefit by €10 is approximately €12.5 million per month or over €150 million per year. A €10 monthly increase would bring the estimated annual expenditure on Child Benefit to in excess of €2.25 billion.
The estimated cost of a once-off double month's payment of Child Benefit at the current rate of payment is approximately €175.34 million.
These estimates are based on the number of recipients in May 2023. It should be noted that this costing is subject to change in the context of emerging trends and associated revision of the estimated number of recipients.
I trust this clarifies the matter for the Deputy.
