An extra €40 million in circulation

Increased allowances reach over 160,000 people

Starting last week, 63,000 families are receiving increased benefits as announced in the last Budget speech. This means an extra €40 million will be in circulation, benefitting roughly 163,000 people.

The biggest increases are those in the children’s allowance, just in time to celebrate the 50th anniversary of the establishment of this benefit by the Labour government led by Dom Mintoff in 1974. This year children’s allowance will be improved by €250 per year for each child. This is the largest increase ever granted in this benefit since its establishment. This increase is part of an electoral pledge whereby this benefit will increase by €450 over the course of the current legislature. Thanks to the increase that has started to be paid, more than three-quarters of the proposed increase in the electoral manifesto – now the government;s programme  – has already been given.

This year the total allocation for the children’s allowance is expected to reach €60 million. This marks a significant increase on 2022, when the allocation amounted to just over €40 million. Reversing a policy from prior administrations, the 2021 Budget included an increase in the children’s allowance, which had been frozen for several years.

Last week also saw a boost for families caring for disabled children and fostered children. Over €2.6 million in allowances was distributed, with €1.9 million reaching 2,250 families with disabled children and €0.7 million going to around 185 foster families. Notably, from last year the fostering allowance no longer ceases immediately but is gradually tapered until the fostered child turns 21.

Finally, around 20,224 families were given the supplementary allowance, with around €8.2 million going to the most vulnerable families in our country. Moreover, these persons have now also come to benefit from the additional mechanism against the cost of living, which was paid in part during the first months of this year.

Photo: Arina Krasnikova

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