Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank the Deputy very much. As she will be aware, the details of the new TBESS are set out in the Finance Bill, which will begin Committee Stage later today. The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023.

The TBESS will be available to tax-compliant businesses carrying on a trade or profession, the profits of which are chargeable to tax under case I or case II of Schedule D where they meet the eligibility criteria. It will also be available to certain charities and approved bodies who, but for specific exemptions, would be chargeable to tax under case I or case II. The scheme will be operated on a self-assessment basis.

Payments will be made on the basis of 40% of the amount of the increase in eligible electricity or natural gas costs between the bill amount, which is the subject of the claim and the bill amount in the corresponding reference period in the previous year. Payments are generally subject to a monthly cap of €10,000 per trade, increasing to a maximum of €30,000 in certain circumstances. In line with the EU temporary crisis framework, there is also an overall cap on the amount that an undertaking can claim.

The scheme will be open shortly. I recognise the important point the Deputy made, which is that even though she broadly welcomes the scheme that is being introduced, she questions the adequacy of the cap and the help that the measure will provide. I believe the scale of the measures that we have brought forward will provide a real help, but I am also aware that a change in the cap in any way could have a significant impact on the overall cost of the scheme. What we should do is get the scheme up and running first, see what the cost is and how it is helping businesses.

See this speech in context