Budget 2021

Government €100 vouchers to be re-issued

19th October 2020

For the second round of vouchers, €60 can be spent at accommodation and restaurants, while €40 at shops and retail services

The €100 Government vouchers will again be given, but this time will be  divided into €60 to be spend at accommodation and restaurants, and €40 at shops and retail services.

Vouchers will be given to all those who will turn 16 by the end of 2020, while the measure is expected to cost the Government €50 million. More details will be given at a later stage.

The Cost of Living Adjustment will be €1.75 for 2020.

In line with the promise to give back public holidays which fall on weekdays to workers, another day of leave has been added, bringing the total to 28 days.

A tax refund will again be given, with the lowest rebate at €45, up to €95 for the lowest income earners. 218,000 workers will benefit from the scheme, amounting to €16 million.

A new concept for the payment of Children’s Allowance will be introduced and will take the form of an additional supplement to be paid for each child in the family.

Where a family’s income does not exceed €25,318 annually, this supplement will be paid out at a rate of €70 annually for each child.

For those families whose income exceeds the above amount, €50 will be paid out annually for each child.

This measure is expected to cost over €3 million, while 40,000 will benefit and 60,500 boys and girls.

The in-work benefit will be extended into 2021, with greater thresholds. For couples where both work, the threshold will go up to €35,000, while for single persons, the threshold will go up to €23,000. For couples where one person works, the threshold will go up to €26,000.

Pensions will again be raised, with an extra €3.25 weekly to be meted out to pensioners.

Pensioners will, together with the COLA, receive an extra €260 annually.

Wage supplement to be retained

The COVID wage supplement, first introduced in March for businesses within specific industries, will continue in its current form until the end of the year.

It will then be revised based on Government income receipts, which flow in at the end of the year.

The authorities will be looking at tax returns to better understand which sectors require more aid, which may need less and which excluded sectors should form part of the wage supplement scheme.

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Government €100 vouchers to be re-issued