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Departmental Priorities

Dáil Éireann Debate, Wednesday - 11 May 2022

Wednesday, 11 May 2022

Ceisteanna (93)

Emer Higgins


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]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar 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.