The Government will give the first official glimpse at the upcoming cost of living budget on Monday with the publication of the Summer Economic Statement.
A special Cabinet meeting will convene at 2.00pm to discuss spending for 2023.
The Summer Economic Statement sets out how much money the Government thinks it will have to spend for next year, and gives a major update on the state of the economy ahead of the budget.
This year it is getting more attention than usual given the intense cost of living pressures people are facing.
That will be the main focus of this budget, with Ministers trying to strike a balance between easing cost pressures and not adding to inflation.
An older man counting Euro notes. Picture by: Rodica Ciorba / Alamy Stock PhotoThe Government looks set to break its own spending rules: going beyond the planned 5% increase in spending each year - a figure which was based on 2% to 3% inflation.
It is expected there will be a significant social welfare package in the budget.
This could include an autumn double-payment similar to the Christmas bonus.
Tax measures are also expected, with Fine Gael in particular looking for a new income tax band at 30%.
While a repeat of the €200 electricity payment is also on the table. Ministers are set re-examine public transport fares as well.
However, Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath are also expected to point out potential threats to the Government's bottom line, including unreliable corporate tax receipts.
