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Departmental Priorities

Dáil Éireann Debate, Wednesday - 11 May 2022

Wednesday, 11 May 2022

Questions (93)

Emer Higgins

Question:

93. Deputy Emer Higgins asked the Minister for Finance if he will outline proposals to support small businesses to cope with the increasing costs of heat and electricity; and if he will make a statement on the matter. [23766/22]

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Written answers (Question to Finance)

As the Deputy will be aware the Government has provided a wide range of supports to business over the course of the pandemic. In relation to the increasing cost of heat and electricity for households and businesses a reduction in VAT on the supply of gas and electricity from 13.5% to 9% came into effect from 1 May and will last to 31 October. The measure is estimated to cost €46m. While businesses can reclaim VAT already, they may choose to use the VAT reduction to improve their cash flow.

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