This would be a boost for households because the windfall tax on all energy firms, renewable and fossil, is set to deliver between €280million and €600million to the Exchequer.
Fossil fuel energy firms could be hit with the Government’s profits windfall tax in the coming weeks under new legislation set to be agreed by Cabinet this morning.
A source close to Mr Ryan told the Irish Mirror: “Minister Eamon Ryan will seek approval from Government tomorrow to divide the proposed Energy Windfall Gains Bill into two separate Bills to ensure that the collection of the Temporary Solidarity Contribution from large gas and oil producers can proceed faster before the summer recess.
“However, the temporary solidarity contribution element is further-developed and can be brought through the Houses of the Oireachtas faster. Also set to come before this morning’s Cabinet meeting will be a memo from Foreign Affairs Minister, Micheál Martin, on our Defence Forces members serving abroad.
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