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Leading Economist Says Governm...

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Leading Economist Says Government Was Limited In The Actions It Could Take To Curb Rising Energy Prices

RedFM News
RedFM News

04:05 12 Feb 2022


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A leading economist says the government was limited in the actions it could take to curb rising energy prices.

Last week's announcement included a doubling of the energy credit due next month to 200 euro, and a fuel allowance lump sum of 125 euro.

However opposition parties criticised the measures as not going far enough.

Economist Colm McCarthy says there was little Ministers could do when Ireland doesn't control global energy prices:

"If the price of energy imports goes up, then you really can't compensate the whole country for an increase in the price of something whose supply you can't control. What the government has done is a limited measure. It's nothing consequential - people will get a 200 quid credit on their electricity bills."


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