Mick Barry (Cork North Central, Solidarity) | Oireachtas source

I move amendment No. 16:

In page 65, between lines 10 and 11, to insert the following: “Reports

24.The Minister shall, within three months of the passing of this Act, prepare and lay before Dáil Éireann a report on a levy on energy supply and generation companies to offset the increased cost of heating and energy for households.”.

I will speak briefly on this amendment. The facts, figures and statistics in this regard have been quoted many times in this House. I am not going to recite them again. These large profits, and in some cases the massive profits, are being made by these energy corporations at the same time as ordinary customers are experiencing massive increases in gas and electricity prices. My basic point is that we are witnessing a transfer of wealth from ordinary people towards the big companies, their shareholders, etc. This needs to be reversed by placing a levy on these companies, which would offset the price increases. I note that in recent days the Government has stated it is going to introduce a windfall profits tax. If that is the case, then the Government should support this amendment. I am interested in hearing what the Minister has to say on this point.

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