Government ministers have “not ruled out” imposing a windfall tax on the hundreds of millions of euro energy companies are making in Ireland.
Our biggest energy company, the semi-State, ESB, recently reported an operating profit of €679 million for 2021.
There were calls for a windfall tax on profits like these in the Dail on Thursday afternoon.
Independents 4 Change TD, Joan Collins, said the proceeds could be given back to ordinary householders struggling to make ends meet.
Tanaiste and Enterprise Minister, Leo Varadkar, responded on behalf of the Government and said it was something they were considering.
Ms Collins said: “We know the profits of these companies have increased enormously because of the price of energy.
“The UK is talking about a windfall tax and Italy has implemented it, with a 25% tax on energy companies.
“Dr Sweeney (an expert from the TASC think-tank) pointed out that energy companies in Ireland are registered in such a way that we do not know their profits.
“What is the Government going to do about this?
“A windfall tax could absolutely be targeted towards the people who need it most.”
Mr Varadkar replied: “We are not ruling out a windfall tax on energy companies.
“I know other countries are doing it.
“The difficulty we have in Ireland is that the vast majority of energy companies are not Irish.
“Petrol, diesel, gas and all those products are imported.
“This is not something we are ruling out as a potential means of raising revenue, which we could then use to help people with the cost of living.”
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