Ministers will today discuss fresh plans to cap energy revenues to tackle windfall gains in the sector.
Minister for Environment Eamon Ryan will seek Government approval for the General Scheme of the Energy (Windfall Gains in the Energy Sector) Bill 2023, which will bring in a temporary solidarity contribution and a cap on market revenues to address windfall gains.
The windfall gains measures will consist of two parts. The first will be a temporary solidarity contribution based on taxable profits in the fossil fuel production and refining sectors, which will apply for 2022 and 2023. The second part will be a cap on the market revenues of some generators such as wind, solar and oil, in the electricity sector. This will apply for the period between December 2022 and June 2023.
It is estimated that the two will result in proceeds of between €280 and €600 million being collected. The range is broad because there are so many variables, including the cost of energy.
Mary and Anne Boleyn: ‘Their story has been written by men. This sets it straight after five centuries’
David Corkery: ‘I feel like I’m being villainised by the whole rugby community because I’m taking this action’
‘I gave it my all. I don’t rule out anything’: What next for Simon Harris, Fine Gael’s most ambitious minister?
The Government intends to enact the legislation before the summer recess and the first proceeds are expected to be collected in September 2023.
Meanwhile the Minister for Justice Simon Harris will bring plans to Cabinet to recruit 1,000 gardaí will this year.
Ministers will also this morning discuss plans for a new anti-racism strategy, as well as proposals for the decade of commemorations programme.
Mr Harris will tell Ministers of a new recruitment campaign for An Garda Síochána which will open this Friday, and which will last three weeks.
The recruitment of 1,000 new gardaí into Templemore this year is a major plank of the Government’s pledge to build safer communities. It also aims to secure a strong pipeline of recruits into the Garda college into the future.
Currently there are over 200 trainees in the Garda College, and four further tranches of 225 recruits will enter Templemore throughout the rest of the year. Almost 500 passed through the college in 2022, between those who attested or started their training.
Mr Harris will update the Cabinet on a plan from the Garda Commissioner Drew Harris to support four intakes of 225 recruits at 11 week intervals for the remainder of the year. These intakes will be a significant increase on a recent large intake of 132 in early February, which itself was an increase on the 88 recruits who entered the Garda college in November.
The current trainees in Templemore are from the most recent recruitment campaign launched last year by Minister Helen McEntee. The new campaign, to be launched on Friday by Minister Harris, will supplement this.
Mr Harris will tell Cabinet that the first candidates from the new campaign will be ready for interview by the Public Appointments Service (PAS) by July. The PAS will increase its current capacity to allow 400 interviews per month, and this will ensure a larger flow of candidates through the later stages of the recruitment process.
Meanwhile the Minister for Culture Catherine Martin will bring a memo on this year’s decade of commemorations programme, while Minister for Children and Equality Roderic O’Gorman will bring to Cabinet a new National Action Plan Against Racism. The plan will be launched on Tuesday afternoon.