Paul Gavan (Sinn Fein) | Oireachtas source

I move recommendation No. 27:

In page 143, between lines 16 and 17, to insert the following:

“Report on impact of extension of 9 per cent rate of VAT for supply of gas and electricity until 30 April 2025 on level of arrears on electricity and gas bills in State

80. The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the impact of the extension of the 9 per cent rate of VAT for the supply of gas and electricity until 30 April 2025 on the level of arrears on electricity and gas bills in the State, making reference to the level of revenue collected through the temporary solidarity contribution applied to fossil fuel production and refining companies, and making reference to the level of windfall profits of electricity generation companies as no windfall tax was applied.”.

This recommendation calls for a report on impact of the extension of the 9% rate of VAT for supplies of gas and electricity until 30 April 2025 on the level of arrears relating to electricity and gas bills in the State. The Minister of State will be aware that Sinn Féin called for the 9% reduced VAT rate to be extended in our alternative budget until 1 May, which is what the Government is doing. However, households continue to struggle under the weight of high energy bills. In July, electricity prices were 47% higher than they were in July 2021, while gas prices were 84% higher. Irish electricity prices remain among the highest in the European Union. Government refused to apply a windfall tax on electricity companies, allowing them to keep record profits at the expense of workers and families. The Government opted for protecting corporate profits over public finances. Figures released to Sinn Féin show that more than 230,000 households were in arrears on electricity bills at the end of April, an increase of more than 20,000 on the same period in 2023. Sinn Féin would support households with a €450 electricity credit this autumn and winter. This measure would cost approximately €900 million. There is a very good case for the suggested report at the least.