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Budget 2023: Main Points That Affect The Irish Grocery Retail Industry

The Minister for Finance Paschal Donohoe has delivered Budget 2023 to Dáil Éireann.

Minister for Public Expenditure and Reform, Michael McGrath has presented his speech.

Here are the main points, that effect the Irish Grocery Retail Industry as they happened.

Tobacco

The excise tax on cigarettes will increase, which means that a box of 20 cigarettes will increase by 50c, with a pro-rata increase on other tobacco products.

Newspapers 

In order to "support a free press" in Ireland, Minister Donohoe has announced that VAT will be reduced to 0%, effective from 1 January 2023.

Household Energy Bills

All households will receive electricity credits totalling €600, to be paid in three instalments of €200. The first payment will be made before Christmas.

Staff Vouchers

The tax-free threshold for voucher based bonuses employers can give workers will be raised to €1,000.

SMEs Energy Bills 

SMEs will qualify for energy bill payments this winter covering 40% of the increase in electricity or gas bills.

Agri-Food Sector

There will be €238 million budget allocated to alleviate the impact of Brexit on the agri-food sector.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.

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