2023 Household Assistance Package

15 December 2022

In the wake of increasing commodity prices such as fuel, fertiliser, rice and cooking oil, the Minister of Treasury Ian Ling-Stuckey has announced the delivery of a Household Assistance Package aimed at alleviating the mounting cost of living pressures.

The K590 million package, announced as part of the National Budget for 2023, will deliver a range of benefits designed to mitigate rising inflation and cost of living pressure on workers and low-income people.

Those earning more than K20,000 per year will enjoy tax cuts of up to K63 per fortnight. The government will achieve this by raising the tax-free threshold to K20,000 throughout 2023, which is projected to cost K280 million.

In response to the escalating fuel prices, the government will allocate K150 million by eliminating all excise taxes on fuel, thereby easing fuel prices at the pump and reducing the costs of transports and logistics in the country.

In addition, K160 million will be allocated towards abolishing schools project fee costs in 2023. This initiative will alleviate the burden on families raising the next generation of Papua New Guineans.

The measures are expected to bring significant relief to many and help secure a more stable financial future for households across the country.

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