Energy supports for businesses to be part of Budget 2024

Taoiseach Leo Varadkar has said that energy supports for businesses in Ireland will form part of Budget 2024, which will be announced in October.

He noted that energy bills are not falling quickly enough, despite the dip in inflation. “Our expectation is that electricity and gas prices will fall, but they won’t fall enough or fast enough between now and next winter for us to say that there is no longer a case for supports. So I think it’s pretty obvious that people will need help with their energy bills this winter coming.”

He said that there will be a mix of universal and targeted measures to help with energy bills, adding that more money will also be targeted at retrofitting both homes and businesses.

“We’ve had about 30,000 or 40,000 homes retrofitted already this year, and I see more and more people taking on solar panels – we want businesses and households to do that,” he added.

The details of how the energy supports will work has yet to be finalised.

Meanwhile, the Irish Hairdressers Federation (IHF) is continuing to lobby for a retention of the 9% VAT rate, which is due to revert to 13.5% on 1 September.

The industry body has reached out to members asking them to email a letter to their local TD, and to also visit their local constituency office.

“As the Dail is on its summer recess, many TDs are on the home ground and face-to-face meetings will always make them listen,” it said.