€35.3 m support measures announced – Who benefits and by how much

The Council of Ministers has decided on a package of measures amounting to €35.3 million to support households and businesses.

Two of the measures concern the extension of the subsidy to cover the increase in electricity tariffs and the zero VAT rate on basic products until the end of June.

At the same time, the remaining new measures include a lump sum to specific households that receive aid from the Deputy Ministry of Social Welfare, while the fourth measure concerns the payment of a monthly allowance of €100 for the transportation of persons with disabilities.

Finally, the fifth measure concerns the support of people being given small pensions with an additional €100 per month.

The package of measures benefits 400,000 household consumers and 100,000 businesses - in terms of electricity costs – and 33,253 families, as well as 28,000 low-income pensioners.

More specifically, the package of measures includes the following:

First: An extension of the targeted measure to subsidise the cost of electricity for two more billable months, May and June.

The estimated cost of the measure amounts to €8 million and covers more than 400,000 households and 100,000 businesses.

The subsidy covers residential consumers, vulnerable groups, commercial and industrial consumers.

Second: Extending the application of the zero VAT rate on basic items, such as bread, milk, eggs, baby food, diapers, etc., including vegetables and meat, until the end of June.

The cost of this measure is €6 million.

Third: Strengthening family income as a compensation for the horizontal abolition of the measure on motor fuels.

Targeted one-off support will be paid in equal amounts three times during the months of April, May and June 2024 to specific households receiving benefits from the Deputy Ministry of Social Welfare.

More specifically:

• For child benefit recipients with a monthly cost of €2.1 million. That is, single-parent families with an annual income of €19,500 or less and a maximum amount of deposits of €10,000, will receive a one-time support of €100 for the first child, increasing by €50 for each additional child and a maximum amount of €250.

In addition to the four dependent children, an additional amount of €100 euros.

A total of 5,562 single-parent families stand to benefit from this measure.

• For a couple of families with an annual income of €25,000 or less and a maximum amount of deposits of €15,000, the lump sum will be €100 for the first dependent child, increasing again by €50 for each additional dependent child with a maximum amount of €250.

In addition to the four dependent children, an additional amount of €100.

A total of 10,233 families are anticipated to benefit from this measure.

• Households that receive the Guaranteed Minimum Income and are not included in the above categories, will have a lump sum of €100 per month for three months.

A total of 17,458 households stand to benefit from this measure.

Fourth: Concession of a one-off amount of €100 per month to people who are recipients of a mobility allowance from the Department of Social Integration of Persons with Disabilities.

The cost amounts to €1.3 million, while the people who will benefit amount to 4200.

Fifth: Strengthening the income of low-income pensioners with an amount of €100 euros per month and which concerns 28,000 low-income pensioners.

(Source: InBusinessNews)