Róisín Shortall (Dublin North West, Social Democrats) | Oireachtas source

I thank the Taoiseach. I welcome the indication that we are moving to a windfall tax, however late in the day. What is the timescale for the introduction of such a tax?

Will that be retrospective?

The Taoiseach spoke about the main energy companies and the extent of the profits they have been making. We know that in the first six months of last year, the ESB made profits of €390 million, yet it imposed three separate price hikes last year. The profits of Bord Gáis Energy went up by 74% in the first six months of last year, yet it increased electricity prices on four occasions and gas prices in five occasions. Does the Taoiseach not accept that it is time to call a halt? We need to introduce the windfall tax but we also need to ensure there are direct benefits for households and businesses from that windfall tax. We need to reach a point where energy bills are again somewhat affordable. No deals are available at the moment and we need urgent action on this.

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