Children's allowance payments have started being paid, Minister for Social Policy and Children's Rights Michael Falzon said on Friday.

These payments will cover the first three months of next year, with the government forking out a total of €12 million.

"These annual payments are given ahead of schedule to help families plan their finances better during the festive season," he said during a press conference.

He explained that the children's allowance payments will be paid by the coming Saturday, with some of the payments having already been paid this week.

These payments will reflect the increase of €90 announced by the government in the budget for the year 2023.

Meanwhile, the minister said that the amount spent on the first three payments made this year was €33,446,454.

Falzon also made reference to the payments linked to the additional COLA mechanism for the vulnerable, which for the first time will also be paid by the end of the week. 

It is expected that more than 40,852 families will start receiving the additional COLA grant which is a once-a-year payment ranging from a minimum of €100 to a maximum of €1,200 per household.

This amount, which will be paid in instalments amounts to almost €14 million. Additionally it was also explained that those who will not be receiving a payment with this instalment will be included in that of next year.