Government must introduce a €400 energy credit now, says O’Callaghan

The government must introduce a targeted €400 energy credit to help people who are struggling with soaring energy prices, according to Social Democrats Finance Spokesperson Cian O’Callaghan.

The Dublin Bay North TD said, “the war in the Middle East is now in its sixth day and the price of oil and gas is continuing to skyrocket. The average price for a half fill of oil has risen from under €500 to more than €750 in the last few days – an increase of more than 50%”

He questioned “how are elderly people on pensions – or families with young children – supposed to pay these extortionate costs? They don’t have a spare €250 sitting in their bank accounts to pay for home heating oil.”

He said that people are already “living week to week, struggling to keep their heads above water. Now, all they see on the horizon is an avalanche of price rises coming towards them.”

O’Callaghan noted that a number of government ministers, as well as the Taoiseach, have admitted that gouging and profiteering is taking place, but accused the government of “refusing to do anything meaningful to help people through this energy price turmoil.”

“The Social Democrats have proposed a fully-costed, targeted €400 energy credit which would be paid to 800,000 households. This would cost €362m, which is very affordable, and would provide relief to those individuals and families who are really struggling,” he noted.

“Electricity prices in Ireland are already the highest in Europe; nearly 320,000 households are in arrears on their electricity bills and now the cost of home heating oil is rising exponentially. This is a crisis. The government must intervene.”