EU energy windfall taxes could generate up to €2 billion for Ireland
Ireland could receive up to €2 billion if the EU introduces a windfall tax on energy companies, the Environment Minister has said. Eamon Ryan said he was confident EU countries would reach agreement on implementing new measures in a bid to reduce soaring energy prices.
EU energy ministers were due to meet in Brussels on Friday morning in an attempt to approve the implementation of emergency energy windfall levies. Speaking from Brussels, Mr Ryan said the text had been agreed and that the measures will be useful for Ireland.
One-off measures ‘will insulate most households’ this winter, says ESRI
The Government’s one-off measures “will insulate most households from rising prices” this winter, according to the Economic and Social Research Institute (ESRI).
The think tank added that further welfare bonuses, lump-sum payments and household energy credits would be needed next winter to prevent “real term cuts” to the living standards of lower-income households. A package of one-off measures to help people struggling with the rising cost of living was announced as part of Budget 2023 this week.
Irish inflation slows but energy prices up 38% over the year
Irish inflation has risen by 8.6 per cent in the year to September, but that is lower than the 9 per cent increase recorded up to August. Irish prices are rising at a slower rate than in Euro zone as a whole, where inflation is estimated to have gone up by 10 per cent in the last 12 months.
CSO estimates suggest Irish energy prices remained static within the month of September but were up 38 per cent over the year.
Gardaí probe after car crashes through gates of Sinn Féin TD Martin Kenny’s home
Sinn Féin TD Martin Kenny has thanked the emergency services following a “distressing and traumatic” incident in which a car rammed through the gates at his home in Co Leitrim.
A Garda investigation is under way into the incident near Ballinamore in the early hours of Thursday morning. Mr Kenny’s wife was at home alone at the time of the incident.
Nato believes Baltic Sea gas pipeline leaks were sabotage
Nato has warned it would retaliate over any attacks on the critical infrastructure of its 30 member countries and joined other Western officials in citing sabotage as the likely cause of damage to two natural gas pipelines in the Baltic Sea.
The warning came as the Swedish coast guard confirmed a fourth leak on the pipelines off southern Sweden, which is in the process of joining Nato.