Budget 2024: Children’s allowance to increase by €250

Children’s allowance will increase by €250 for every child, the finance minister has announced.

It will take government spending on children’s allowance to €15.5 million for 62,000 boys and girls.

Special allowance for those who continue studying beyond obligatory age

In specific cases, parents with low income continue to receive a children’s allowance until the child reaches 18 years of age.

“When the time comes for eligibility for the Child Allowance to end, parents will become eligible for a Special Allowance when their children continue their full-time education. This Special Allowance will amount to €500 per year for three years, as long as the children continue to live with their parents and remain full-time students,” Caruana said.

4,800 families are expected to benefit from the measure in the first year, with the number shooting up to 15,000 in three years’ time. It will cost €7.5 million.

Child bonus

In 2020, government had introduced a bonus for every child born or adopted.

The amount will increase to €500 for the first child, and to €1,000 for the second child and subsequent children, up from the previous amount of €400.

Around 3,200 family will benefit from the measure.