IRELAND’S Defence Forces will receive a budget war chest worth almost €1.2billion next year to improve soldiers pay and buy new ships, jets and armour, the Irish Sun can reveal.

The Government have committed to increasing Ireland’s spending on Defence up to €1.5bn by 2028 following recommendation from the Commission on the Future of the Defence Forces.

Earlier this month, Defence Minister Simon Coveney told the Irish Sun that he wanted to make a “strong start” on reaching this target in Budget 2023 despite the financial demands of the cost of living crisis.

The Irish Sun understands that the Coalition will today reveal the biggest ever budget for the Defence Forces in the history of the State at €1.17bn.

Minister Coveney is believed to have secured €175m for the Defence Forces capital budget which is expected to fund more than a dozen building projects next year.

An additional €47m has been set aside to improve pay and pensions for soldiers in 2023.

The record breaking defence budget is also expected to cover the purchase of a state of the art new radar system, new vessels for the navy and new aircraft for the air corp.

Some €26million has been earmarked to buy new vehicles and armour for the army.

The beefed up defence budget comes as the Defence Forces are set to embark on one of the biggest recruitment campaigns in their history.

The Government has set a target of recruiting 3,000 more soldiers and civilian personnel for the Defence Forces on the back of recommendations from the Commission on the Future of the Defence Forces.

Meanwhile, thousands of Irish people look set to benefit from a €12 weekly increase to social welfare payments in Budget 2023.

And cash strapped renters are also set to land €1,000 in tax reliefs in the upcoming Budget.

Thousands of students are set for an early Christmas present as part of Budget 2023 with a double payment of student grants on the way in December.

The Coalition are also planning to slash college fees by €1,000 for all students this year as part of a one off cost of living package.

Higher Education Minister Simon Harris has secured bumper funding to make third level education more affordable for students.

The Fine Gael Minister has secured funding to reduce college fees for all students by €1,000 this year.

The reduction is set to take effect immediately for this term as measure to help students during the cost of living crisis.

The Government is also expected to tackle a number of other areas that are putting the squeeze on families.

Free schoolbooks, a double child benefit payment and cuts of up to 25 per cent on childcare costs are just some of the measures expected.

The €10billion bonanza will also see the Government try to cushion households from skyrocketing energy prices with two €300 energy credits.