Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

I say to these businesses that we understand the pressures they are under. This is why we reduced excise and took 20 cent off petrol and 15 cent off diesel, but unfortunately we do not control those prices as they are internationally determined. This is why we put in place the 9% VAT rate for the hospitality sector, which is particularly important given the tourism hot spot that Cork south west is. That will run into next year. It is also why we reduced the VAT on electricity and gas to 9%, which is the lowest it has ever been, in order to help people with those particular bills. Just today, with the Minister of State, Senator Hackett, and the Minister of State, Deputy Browne, I announced €55 million in funding for businesses to help them to invest in smart meters, in heat pumps and in green energy and renewable energy to help them reduce those costs in the long term.

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