Good news parents - Massive Budget 'lump sum' bonus to child benefit on the cards next week

The government is putting the finishing touches on the cost of living measures due to be unveiled next week for this year's Budget.

Parents are one of the major groups set to receive two double payments.

A €250 energy credit payment has also been agreed for inclusion in next Tuesday’s Budget, as the Coalition will seek to frontload any bonus payments to the end of the year with a general election looming.

It comes amid predictions that the Child Benefit payment will be increased by €10 in Budget 2025. This would mark a major development as it has been set at €140 a month for each child for many years.

While these once-off payments have gotten the go-ahead, an increase in the €140-a-month universal payment for each child is unlikely. Tánaiste Micheál Martin had floated the idea, but it is not expected to happen unless funding is found in the closing days of negotiations.

The remaining social welfare elements of the Budget have yet to be finalised. Taoiseach Simon Harris and Social Protection Minister Heather Humphreys want the pension increased by €15 a week, but not Jobseeker’s Allowance, as the country is in full employment.

The burden of the Universal Social Charge (USC) will also once again be reduced.