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The Irish Sun

From €450 cash boost to €63.50 tax hike – the three money changes hitting Irish accounts in May

MAY is a month where millions of Irish people will be affected by major money changes - from €450 payment boost to €63.50 money hike. Households across the country should be aware of a number of Advertisement Irish people saw hikes in broadband, healthcare, mobile and But May is set to bring a slower-paced month for cost-of-living changes, but there are major money changes that households across the country should be aware of. MAY BANK HOLIDAY To start with, the May This means thousands of people could see their social welfare payment land straight into accounts as soon as this month. Advertisement Read more in Money The May bank holiday falls on Monday, May 5. And any It will affect those receiving their Child Benefit payment which will also be paid on Friday, May 2 or Saturday, May 3. CARBON TAX It was confirmed that the rate of carbon tax for petrol and diesel would increase to €63.50 per tonne from €56 per tonne on October 9, 2024 as part of the Budget 2025. Advertisement Most read in Money It is expected to reach €100 per tonne as part of a plan to discourage fossil fuel use by 2030. The increase will apply to all other fuels from May 1 SOCIAL WELFARE CUT Six money changes that hit Irish pockets in April Households across the country have seen a new social welfare boost, price hikes and payment cuts in April. SOCIAL WELFARE CUT The weekly €33 Fuel Allowance was previously issued to 409,721 Irish households. The cash, which is worth a total of €924, started on September 23 last year and LAYA HEALTHCARE Around 700,000 Irish customers will now have to pay more for their health insurance. Laya Healthcare increased its premiums by an average of seven per cent from April 1st, blaming the cost of delivering healthcare hitting new highs. And the combination of all three increases could see the cost of policies rising by more than 17 per cent. SSE AIRTRICITY Household electricity and gas prices increased from April 2, 2025. Customers will pay an extra €171.55 for electricity and €113.15 per year for gas. SKY, EIR, VODAFONE & THREE But both Eir and Vodafone have now changed to a fix annual charge for every April. Vodafone's broadband plans will increase by €3.50 a month each April going forward while its broadband and TV plans will go up by €4.50 a month each April. Sky customers' costs rose by up to €96 a year from the start of April, with JOBSEEKER'S BENEFIT The Pay-Related Jobseeker's Benefit was rolled out from March 31, providing a huge boost for thousands of people. NO TAX CUTS & JOB FEARS There are fears 80,000 Irish jobs could be lost amid US tariff chaos, Minister for Finance Paschal Donohoe has revealed. US president Minister Donohoe warned the "worst case scenario" could see between 50,000 and 80,000 jobs that would have been either created or kept within the Irish economy lost. Motorists will pay an additional €1.28 and €1.48 for diesel for a 60l tank. And the household gas bills will also see a rise of around €16 manually. Advertisement JOBSEEKER'S BENEFIT The Pay-Related Jobseeker's Benefit was rolled out from March 31, providing a huge boost for thousands of people. It will be available for those who become fully unemployed on or after March 31 and have enough pay-related social insurance contributions, also known as PRSI. This means, anyone who became unemployed in May can now apply for the social welfare boost, which can be worth up to €450. There are three different rates of payment for those who become fully unemployed after March 31. Advertisement A maximum of €450, or 60 per cent of your prior income, will be available for people who have made at least five years PRSI contributions and will be paid for the first three months. A second rate of a maximum of €375, or 55 per cent of your prior income, will be paid for the following three months. And a third rate of a maximum of €300, or 50 per cent of your prior income, will be paid out for the final three months. As part of the requirements for the social welfare payment, you must Advertisement 1 Households should be aware of a number of coming next month Credit: Getty Images - Getty