While the larger payments might make us feel good when they arrive, they won’t help us pay our bills in the long term. 

Strategically, many of the payments will be handed over before Christmas. 

Maybe the Government is hoping we will feel grateful for its benevolence in the run-up to the most wonderful time of the year. 

The problem for the parties in power is that we may be calling them Scrooge by the time we head into the spring, not ideal as they start canvassing for elections.

Families with children of all ages will benefit most from this budget with the most meaningful changes in the pipeline.

These include a further 25% reduction in childcare fees from September 2024, the extension of the fee waiver for school transport services, and free school books up to junior cycle level. 

Parents of children in the senior cycle will also be glad to hear of another one-off reduction to the student contribution fee. 

Not much solace for the long term but appreciated nonetheless.

All households will receive a further set of three €150 credits on their electricity bill. 

There will be one credit applied before the end of this year, and a further two in 2024. 

The Commission for Energy Regulation recently published its arrears report for the first half of the year. 

Between the first and second quarters of this year, the number of energy customers in arrears increased by approximately 55,000 electricity customers and 7,000 domestic gas customers — 12% of all electricity customers and 24% of all domestic gas customers were in arrears at the end of June.

This matches the ending of the last energy credit scheme in the spring. 

Heading into this winter, it’s certainly a cause for concern, considering the high levels of arrears and the lower energy credit. 

Energy prices will begin to decrease next month, but this will not be reflected in our invoices until the end of November at the earliest due to billing cycles.

For recipients of domiciliary care allowance, there was once again disappointment.

The increase of €10 per child equates to just about €2.31 per week, a small drop in the ocean of caring for a child with additional needs. 

This payment ends at age 16, and recipients had been hoping that the payment would be extended at least until the end of secondary school, similar to the child benefit extension.

Disability knows no age limits, unless you work in the Department of Social Protection. 

The base rate of all social protection payments will rise by €12 per week. 

However, carers allowance will rise to €249 per week, which is nowhere near the minimum wage for those in a full-time caring role.

It might not come as a surprise that there were no extensions to the medical card scheme this year. 

The health service not only has a massive overspend but is also suffering from historically high waiting list figures. 

Yet, the cost of GP visits without a medical or GP visit card remains high, and the drug payment scheme will not go lower than €80 per family per month.

As was widely leaked, mortgage holders on high variable and tracker interest rates will now be able to claim up to €1,250 in tax relief, but for the year 2024 only. 

Exactly how it’s going to be applied remains to be clarified; previously mortgage interest relief was applied at source by banks. 

This may not work for mortgages held by vulture funds etc. 

This one-off credit will be for primary domestic mortgage holders only, and not for investment or business property mortgages, which makes sense. 

However, only mortgage holders with an outstanding balance of more than €80,000 but less than €500,000 need apply.

Tracker mortgage interest rates were first offered over 20 years ago and many mortgage holders are reaching maturity; with smaller outstanding balances. 

This does not make them any less needy of intervention.

All in, compared to last year, the budget announcements will go some way towards the increased cost of living we’ve had to deal with since September 2022. Not all. 

Like me, families up and down the country will feel deflated because it probably won’t be enough. 

Even with Budget 2024, once I factor in the increased cost of food, fuel, and tracker mortgage interest rates we are still worse off by €70 per week.