Households across Ireland will be in for a boost in the upcoming budget as the government works to offset some of the pressure being felt as prices continue to rise.
More and more energy companies are announcing cost increases for their customers while the price of groceries, fuel, and necessities like clothing and services continue to jump.
Giving a boost for the Irish public, Taoiseach Micheál Martin confirmed that the electricity credits - which are expected before Christmas and in the new year - will be given to everyone.
READ MORE: Leo Varadkar outlines three supports that could be coming down the line amid rising cost of living
Speaking to Newstalk Breakfast Mr. Martin confirmed that they will not be targeted.
However, government sources have suggested the €200 electricity credit must be substantially increased, with some expecting at least three discounts of €200 or more over the next six months.
The Taoiseach reiterated that the Government will move to reduce costs imposed by the State such as healthcare and education costs as well.
While he would not divulge the total cost-of-living package, Martin said a meeting with the party leaders and Minister for Finance Paschal Donohoe will take place this week.
Martin told RTÉ’s Morning Ireland that he would rather issue energy credits to households rather than bring in a cap on costs - which has been seen in the UK.
He explained: “Not a cap, it would be indeterminate and the issue of sustainability is huge. There are huge questions around a cap, who ultimately pays for it, and in what timeframe?
“Initially we have to look at the winter period first and look at it through the prism of getting through to next spring, and then reassess and monitor where we are then, in terms of how we deal with this crisis.”
Martin also suggested that a windfall tax to cover household costs is not out of the question.
“The idea of preventing windfall profits on the back of this crisis is a good one, we have to be fair with people on that and the exchequer, whether it’s an EU mechanism or domestic mechanism,” he said.
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