TOOL · GROSS COST

How much would a basic income cost in Ireland?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Country

Adult population 4,301,441child population 1,010,097year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

46,142 million

in euros€46,142,299,200

Equal to 8.8% of reference GDP

Population covered: 5,311,538 people

Adults: 4,301,441 × €800 × 12 = €41,293,833,600

Children: 1,010,097 × €400 × 12 = €4,848,465,600

€41,293,833,600 + €4,848,465,600 = €46,142,299,200

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $567,372,737,459 · World Bank WDI

Currency EUR · exchange rate 0.9248 EUR/USD (2023)

Converted cost $49,892,220,523 for the GDP share.