Taoiseach says Government will consider windfall tax on energy companies in Budget

Image: Shutterstock/Alexander Raths Image: Shutterstock/Alexander Raths TAOISEACH MICHEÁL MARTIN has said that the government will consider introducing a windfall tax on energy companies in the upcoming Budget.

Martin also said that there will be a separate cost-of-living package parallel to extra budget supports in September “to alleviate the pressures that are undoubtedly there on many households across the country”. Last week, it was announced that Bord Gáis Energy’s operating profits rose by 74% in the first half of this year.Yesterday evening the UN chief accused oil and gas companies of making “excessive” profits from this crisis.

The think tank is also in favour of an energy price cap “so that those taxes aren’t being passed on to customers”.Advertisement People Before Profit TD Richard Boyd Barrett said it is “absolutely obscene” that energy companies are seeing “another staggering increase in profits” while customers are being “hammered with spiraling” costs.

Then he’ll wheel the AG out to say it’s illegal. Tax is only for the little people.

Why don't they install wind farms near people home and supply them with free electricity. Why tax wind doesn't make sense unless you want people to suffer even more and the richer get richer.

Just do it, but cap prices too

Windfall tax does NOTHING to help people pay their energy bills. Gov't using this crisis as a means to rake in more tax. Cap energy prices or give every household a lump sum.

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Poll: Should the government introduce a windfall tax on energy companies?The UN chief has accused oil and gas companies of making “excessive” profits from this crisis. We should all be given a €500 credit on account. No, instead of giving more tax money to the gov't to squander introduce price caps on energy Another tax won't benefit my elderly mother with her gas bill. Or me with my 'family size' electricity bill. Or my employer with his utility bills. Something else is needed here, to bring prices down again. Otherwise the only beneficiary is the Gov, as usual..
Source: thejournal_ie - 🏆 32. / 50 Read more »

Renewed calls for windfall tax on energy companies in wake of Bord Gáis profitsThe Opposition parties have urged the Government to bring in a tax to help ease cost-of-living crisis And with 50% higher prices than the rest of Europe , it should be set at 90% And despite legislation being in place, they still have not released a FIT figure for micro renewables such as Solar PV. It would be great if we had a Green party member as minister of the environment..... We have more natural resources around our Island than most of Europe yet Irish people get Zero benefit from it unless Ur an Irish Politician . Norwegian People get a rebate For theirs while Irish people get the Shaft and Private Companies rake in Billions .Our Country is corrupt
Source: IrishTimes - 🏆 3. / 98 Read more »

Calls for windfall tax on energy companies intensify as Bord Gáis profits grow 74%“It is simply unacceptable that shareholders are profiting from these difficulties when households are facing having to make the choice between heating their home or putting food on the table.”
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