Dáil debates

Thursday, 21 September 2023

Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Second Stage

 

2:50 pm

Photo of Thomas GouldThomas Gould (Cork North Central, Sinn Fein) | Oireachtas source

Energy companies made huge profits on the backs of ordinary hardworking people and families. The Government allowed this to happen. It stood idly by while Europe moved ahead to bring in windfall taxes. I welcome the Bill, but as others have said, it is too little, too late and not enough. Ordinary people have suffered. The question now is whether the Government will finally grasp the straw and bring in a proper windfall tax. These companies have profiteered on the backs of ordinary people, some of whom are the most vulnerable in society. People are terrified looking at the winter ahead. Will they be able to pay their bills? What will they be able to do to keep the gas on and their homes warm?

The Government is finally bringing in a windfall tax. It refused to listen to Sinn Féin and others in the Opposition who made common sense proposals. Instead it insisted on sitting on its hands. That cost us €1 billion. When I think of that money and how the Government allowed the energy companies to take the profits and laugh all the way to the bank, I think that €1 billion could have been spent on people and services. Does the Government think that those who profited last year on the backs of ordinary people look at this windfall tax with fear? They know they just got out of jail. They cannot believe their luck, that the Government is so pro-profit over pro-people.

The Government has claimed that the money raised from this tax will be put towards retrofitting homes. The reality is that the targets are too low. The funding is inadequate. I deal with families and people living in houses and flats in Cork city, who have lived without insulation for decades - not years, but decades - in Noonan's Road, Sarsfield Road, Baker's Road, Glentrasna, Farranee and Mayfield. Those people have not had any retrofitting and their energy bills have gone through the roof because the heating is going out the windows and up through the ceilings. I spoke to a lady last week who is 78 years of age. She lives in Barretts Buildings in Gurranebraher. She has coats and blankets by the door for the winter. That is what she is looking at. She is 78 years old. Where is the money? Officials at Cork City Council and other local authorities tell me that the funding the Government is supplying is not enough to carry out retrofitting. Due to inflation in the construction industry and in the cost of materials, it only meets half the cost.

If the Government is serious, it will bring in a proper windfall tax and support local authorities that want to bring in retrofitting, make homes warmer and drive down people's costs.

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