Pat Casey (Fianna Fail) | Oireachtas source

I move:

"That Seanad Éireann:

notes: - the publication of the Annual Progress Report (April 2026), incorporating the Department of Finance’s Spring Forecasts, in accordance with Ireland’s obligations under the revised EU fiscal framework;

- that the Report highlights the resilience of the Irish economy in the face of significant global volatility, while identifying increased risks arising from geopolitical conflict and disruption to global energy markets;

- the Report’s assessment that Ireland remains close to full employment, with continued growth in employment and a declining general government debt ratio;

- the evidence within the Report that rising energy prices are placing upward pressure on inflation, reducing household purchasing power and increasing cost pressures for businesses;

- that Ireland, as a net importer of energy, is particularly exposed to external energy shocks transmitted through global price movements;

- the identification in the Report of continued risks to the economic and fiscal outlook, including energy price volatility, geopolitical instability and global trade fragmentation; recognises: - that prudent fiscal management in recent years has placed Ireland in a strong position to respond to external shocks;

- that the Government’s economic strategy is based on maintaining fiscal sustainability while protecting households, employment and competitiveness during periods of exceptional disruption;

- the importance of continuing to build fiscal buffers while avoiding procyclical policy responses;

- the need to balance short-term economic supports with longer-term objectives on climate action, energy security and intergenerational equity; welcomes: - the clear, decisive and proactive leadership shown by Government in responding to the sharp escalation in global energy prices, as recognised in the Annual Progress Report, through the deployment of targeted and temporary support measures;

- the new and comprehensive package of fuel supports agreed by Government in April 2026 valued at over €750m, including:

- further temporary reductions in excise duty on petrol, diesel and marked gas oil;

- the deferral of the planned increase in carbon tax to protect households and businesses during a period of acute energy price pressure;

- the establishment of the Road Transporters Support Scheme, providing direct and meaningful support for the haulage and coach sectors;

- targeted fuel subsidy measures for the agriculture and fisheries sectors, recognising their particular exposure to energy costs;

- the focus of these measures on providing immediate relief to households and businesses facing exceptional cost pressures;

- the continued prioritisation of strategic capital investment, infrastructure delivery and structural reform, as set out in the Annual Progress Report;

- the strong emphasis placed on enhancing Ireland’s energy security and resilience, including through accelerated investment in renewable energy and reduced reliance on imported fossil fuels; calls on the Government to: - continue to closely monitor economic and energy market developments and respond, where necessary, in a timely and targeted manner;

- ensure the effective implementation and oversight of the fuel support measures announced in April 2026;

- progress the mediumterm reform and investment priorities set out in the Annual Progress Report and the MediumTerm Fiscal and Structural Plan;

- accelerate measures to enhance energy security and resilience, including investment in renewable energy and critical infrastructure;

- and report, as appropriate, to the Houses of the Oireachtas on economic developments and the effectiveness of measures introduced in response to energy price shocks."