No ‘mini Budget’ on cards as Ministers set to meet on cost-of-living supports, Dáil hears

There will be no requirement for a “mini budget” between now and the next Budget, Taoiseach Leo Varadkar has said.

Mr Varadkar said Government ministers will meet this week with a view to making a decision at Cabinet next Tuesday in relation to the cost-of-living financial supports.

“We won’t be having a mini budget,” Mr Varadkar told the Dáil during Leaders’ Questions on Wednesday.

“That’s [a mini budget] not necessary. The budget set out the fiscal parameters for this year and anything that we do or anything that we announce between now and the next budget will be done within the confines of those fiscal parameters.”

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The Taoiseach said the Government did have “some room to manoeuvre” and would be able to do more for businesses due to an underspend on the Business Energy Support Scheme.

“We have some reserve funds, and we’ll also have revenue coming in from the windfall tax and energy companies so that allows us some room for manoeuvre within the budget parameters of this year, and there will be no requirement for a mini budget at all, between now and Budget 2024.

The Fine Gael leader also said there would not be a “cliff edge” on February 28th when certain cost of living supports expire. Mr Varadkar said the Government would be looking at both universal and targeted measures for people and a finance bill may be required.

He said he did not want to say anything that would “raise expectations that end up being dashed next week” and make promises today “that I may not be able to keep”. The Taoiseach added that people would have clarity “no later than next Tuesday”.

Labour leader Ivana Bacik said there would likely be “a drip feed of leaks coming from the parliamentary party meetings of Government parties” and “kites being flown and Government testing the waters” over the coming days to see “which proposals are politically expedient and which are not”.

Ms Bacik said this was an “insult” to households across Ireland who were “powerless” at present and unable to plan for the future as they have “no clarity or certainty from Government as to what will be included in what you’re not calling a mini budget, but what will undoubtedly be some sort of cost of living package of measures”.

The Dublin Bay South TD said a family in her constituency, made up of two adults and two children, received a heating bill recently for €1,700 for two months despite being away for three weeks, describing it as “a shocking figure”.

Sinn Féin leader Mary Lou McDonald said people were living through “the biggest squeeze on household incomes in 40 years”.

Ms McDonald said with rent “through the roof”, mortgage repayments “soaring”, energy bills “out of control” and rising grocery bills, “many are on the brink”.

The Dublin Central TD said the cost of living was “devastating” for people but “just as last year, Government is moving far too slowly in responding”.

Ms McDonald said the Government was failing to give workers and families the clarity and certainty they needed.

“They want to see a plan from Government that helps them make it through the difficult months ahead,” she said.

“People are worried now and I’m asking you to give them the certainty they need today.”