Colm Brophy
Ceist:264. Deputy Colm Brophy asked the Minister for Social Protection the estimated cost of proving for a €1,000 child benefit lump sum payment in respect of all newborn babies. [45955/24]
Amharc ar fhreagraThursday, 7 November 2024
Ceisteanna (264)
Freagraí scríofa
I am delighted, as part of Budget 2025, to have introduced a new baby grant of €280. This new payment will assist parents with the costs associated with new babies. It will provide additional financial support to a family to ensure adequate resources and that the material needs of a newborn are met. It is estimated that in 2025, the grant will be paid in respect of some 54,000 children, at a cost of approximately €15 million.
In order to issue this new payment some changes to my Department’s systems are required. As a result, the first new baby payment will issue in the new year in respect of those babies born in December.
Child Benefit has been awarded in respect of over 270,000 newborn babies over the last 5 years, an average of 54,000 per annum. Based on this average, the net cost of increasing the Child Benefit lump sum payment to €1,000 in respect of all newborn babies would be approximately €39 million per annum.
I trust this clarifies matters for the Deputy.