Irish share of EU energy windfall levies to be used for ‘direct support’

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 98%

Energy Energy Headlines News

Energy Energy Latest News,Energy Energy Headlines

Ireland’s share of EU levies on windfall revenues currently flowing to energy companies would be used to provide “direct support” to citizens and businesses under Government plans to be unveiled at the budget later this month.

Senior Government sources said they were awaiting further detail from the European Commission about how much Ireland could expect from the new revenue-raising plans. The supports that are to be introduced in the September 27th budget will be paid from existing Government resources, they said.

The measure would skim off revenue above that price and use the cash to help consumers and businesses facing soaring energy bills, according to the draft proposal, details of which are due to be unveiled in Brussels on Wednesday. Taoiseach Micheál Martin said on Tuesday it was “clear and understood” when the Government was formed that when the parties swapped the position of taoiseach the role of minister for finance would also switch.

While there has been speculation that Mr Donohoe could retain the European position if he was minister for public expenditure, Fianna Fáil would have to agree that Mr Donohoe could be Ireland’s representative on the group for that to happen.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

So using their own tax money people and businesses receiving ‘direct support’ become dependent on the government handing them vouchers that may only be spent on expensive energy? Cool 😎 Wouldn’t it so convenient if said vouchers were digital and only go to those deserving? 💁🏻‍♂️

What a pity England cannot do the same

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ENERGY

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Energy firm revenues will be capped and windfall profits taxed, Minister says‘We will provide direct support to our citizens and to our businesses and we will take money off those energy companies,’ Michael McGrath says And those taxes will go…where exactly? Back to those that paid the exorbitant energy costs or to…whom exactly? Good, more taxes that the people will pay
Source: IrishTimes - 🏆 3. / 98 Read more »

Budget 2023: new electricity credits more likely than energy price capThe Government is likely to opt for more electricity credits rather than seeking to cap householders’ and businesses’ bills, Minister for Public Expenditure Michael McGrath has indicated We are staring down the barrel of one of the toughest winters in economic memory -at least since the 80s. We'll be in recession by Christmas. What a photo 🤣 Making the energy companies richer all funded by Johnny taxpayers
Source: IrishTimes - 🏆 3. / 98 Read more »

How to reduce energy consumption and save moneyAppliances and lighting combined account for one fifth of all the energy used in your home but there are ways to reduce the energy consumed and save money. My girlfriend must use f**k all electricity so Are you 5 yrs old? No articles discussing a cap on energy prices? Just goes to show who really controls Irish Media.
Source: rtenews - 🏆 1. / 99 Read more »

Managing energy demands 'key to avoiding blackouts'The EU Energy Commissioner has said managing energy demand will be key to avoiding blackouts in Europe this winter and citizens will have to play their part. No. 'Have to play our part'? We have no part in this crisis, we're on the receiving end of it. There is absolutely zero responsibility for this mess that falls onto us. You created it - you solve it. Can I assume that it might be more energy efficient to use a couple of electric space heaters to heat the couple of rooms a person is using rather than turn on gas fired central heating for the whole house? Never was too sure which is worse.
Source: rtenews - 🏆 1. / 99 Read more »