Households can expect a financial boost of around €150 as the Government plans to extend the reduced nine percent VAT rate on energy bills for another year. Finance Minister Jack Chambers hinted that this measure is likely to be part of Budget 2025, which aims to provide continued support to families grappling with the high cost of living. FEATURED IN THE SUN
With inflation rates still impacting essential expenses like groceries and energy, Minister Chambers emphasized that the cost of living remains a central concern for many families. Although inflation has slowed to around 1.5 percent, prices haven’t dropped significantly for most households. The extended VAT reduction on electricity and gas is intended to help alleviate the financial strain during the winter months.
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This extension follows previous budget measures, including energy credits and tax cuts on electricity and gas, designed to help households cope with skyrocketing energy costs. The government’s focus on keeping energy affordable is a key element of Budget 2025, offering some much-needed relief as the colder months approach.
