Varadkar said he wanted to avoid a ‘cliff edge’ scenario when a series of schemes and reductions are scheduled to stop.
THE TAOISEACH HAS raised the prospect of extending some cost-of-living and business support measures that are due to expire at the end of February.As it stands, a series of measures will stop at the end of February.
“I think it’s fair to say that we can’t have that kind of cliff edge happen at the end of February,” Varadkar said.“So in the new year, certainly by the end of January, or early February, the government will have to give consideration as to what we can do in the spring to help people with cost of living, it won’t be possible to extend all of those measures, I think that’s clear, the public finances just wouldn’t support that.
“My view is that there can’t be a cliff edge at the end of February, so if we do nothing at the end of February, the energy credits run out, the TBES Scheme for business ends, VAT goes up on hospitality, electricity and gas, and excise goes up on petrol and diesel.
Varadkar was asked about the potential for increasing VAT on certain hospitality businesses, for example hotels, while retaining a reduced rate for others, such as restaurants and bars.
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