Politics

Fuel and energy tax cuts to be extended as part of €2bn budget package

As the cost of living crisis continues to bite, cabinet ministers are due to sign off tomorrow on the Summer Economic Statement, which will give an update on the framework for the upcoming budget

Micheál Martin: the Taoiseach said the government was examining the reintroduction of the rainy day fund in the budget to store record corporate tax receipts, which it has been repeatedly warned cannot be depended on to continue. Picture: Getty

The government is set to extend the current fuel tax cuts and the reduced Vat rate for electricity, as part of a budget package in excess of €2 billion aimed at easing the cost of living crisis.

Ministers are due to sign off tomorrow on the Summer Economic Statement, which will give an update on the government’s budgetary framework.

The current existing budget package of €1.5 billion – made up of tax cuts of €500 ...