Ennis Financial Advisor Believes Windfall Tax On Energy Companies A Good Idea

Photo (c) jordan_rusev from Getty via Canva.com

An Ennis financial advisor believes a windfall tax on energy companies would be a good idea.

It comes as a Clare Government representative fears a surplus in state revenue may be shortlived.

The public finances recorded a 5 billion euro surplus to the end of July.



Income tax, VAT and corporation tax take were all up significantly – with corporation tax up 51 per cent

The Taoiseach yesterday confirmed that this money would allow government to introduce a special package of measures to help families cope with the cost of living crisis in September, separate to the Budget.

While Clare’s Fine Gael Senator wants all of the surplus in state revenue to be used for cost of living measures, he fears such figures may be short-lived.

Ennistymon-based Senator, Martin Conway says it is possible that some of the surplus may be withheld to protect against an expected financial depression.

One area sure to be addressed in any cost of living package is assisting at least part of society with soaring energy bills.

Huge profits from some firms has prompted opposition politicians to call for a windfall tax to be introduced in Budget 2023.

Tommy Corbett of Carey Corbett Financial Solutions says questions need to be answered about how such a measure would be implemented.

Despite those economic concerns, CSO figures show unemployment is at its lowest level here in 21 years.

However, there’s calls for more immigrants to be enticed to Ireland to fill certain roles.

Director and Co-founder of CareerWise Recruitment in Shannon, Joe Robbins, says it’s difficult for firms to recruit people from abroad due to housing concerns.

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