The party’s finance spokesman Ged Nash also said that Labour would reduce electricity prices in Ireland to the European average but admitted to the Irish Mirror that he did not know how this could be done.
The Labour Party has called for energy credits, indexed increases to tax credits and social welfare payments and a minimum wage hike to be rolled out.
Deputy Nash also said the party would provide energy credits of at least €300, but only to households with an income of less than €1000,000. Another proposal stated that the Labour Party would “reduce electricity prices to the European average”. When asked by the Irish Mirror how the Labour Party would reduce the cost of energy, Mr Nash said that an independent report would have to be commissioned to look at options.
“We know that there is very limited competition. There are many reasons why Irish energy is so expensive, but one way that we can assist businesses with the high cost they have at the moment and households is to see energy costs in this country incrementally reduced over the next period of time to the European average for an average.”
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