Inflation will not be under control by February and that the Government will have to interact
Taoiseach Leo Varadkar has vowed that there can be “no cliff edge” to cost of living supports and that the Government will consider new measures this month.
This included the introduction of several €200 energy credits and cuts on the excise duty charged on petrol and diesel. Businesses were also assisted through the Temporary Business Energy Support Scheme and VAT cuts for hospitality. “The energy credits run out, VAT is supposed to go back up on hospitality, electricity and gas, excise is due to go up on petrol and diesel and the TBESS to help businesses is due to end.“We’re not going to have inflation and the cost of living under control by then. 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 the cost of living.
The Taoiseach was asked if hotels that have been accused of “price gouging” could be subjected to the higher 13.5% rate of VAT from the end of February while continuing to apply the lower 9% rate to restaurants.
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