- As reported in the Business Post tax cuts are on the way for people “at all income levels” next year, the finance minister has promised. Michael McGrath repeated his pledge for a “substantial income tax package” in the budget this October which, he said, would allow people to “keep more of their hard-earned money”. “Because of the health of our public finances, the way they have been managed in recent years, I believe we will have a good budget in October,” he told the Business Post in Luxembourg, where he was attending a meeting with his EU counterparts. https://www.businesspost.ie/news/michael-mcgrath-pledges-tax-cuts-for-all-in-this-years-budget/
- As reported in the Business Post Micheál Martin has promised further changes to tax credits in this year’s budget and said that further energy credits and pension increases would be on the cards come October. Speaking to the Business Post ahead of Fianna Fáil’s annual ard fheis, the Tánaiste said his party’s main priority would be delivering the coalition’s final budget before the next general election. He said that Michael McGrath, the finance minister, would target increases to credits for personal income tax as part of Budget 2025. https://www.businesspost.ie/news/micheal-martin-more-housing-a-bumper-tax-package-and-the-hard-reality-of-the-split-vat-rate/?
- According to Shannonside the price of a litre of petrol and diesel increased by 4 cent and 3 cent respectively on April 1st, with another similar hike planned for August 1. Rural drivers across the region will be hit the hardest by increases in fuel prices. That's the view of TD for Sligo-Leitrim, Marian Harkin. The price of a litre of petrol and diesel increased by 4 cent and 3 cent respectively on April 1st, with another similar hike planned for August 1. https://www.shannonside.ie/news/rural-drivers-expected-to-be-hit-the-hardest-by-fuel-price-increases-239470
- According to the Business Post Amazon, Google and Microsoft have warned that Ireland is likely to lose significant levels of investment due to a failure to address the country’s creaking energy system. The tech giants, which together employ more than 10,000 staff here, have significant concerns over Ireland’s ability to cater to future data centre growth, amid ongoing restrictions on connection requests from big business due to constraints on the grid. In a recent document, seen by the Business Post, an industry group that represents the three companies took issue with several aspects of a proposed new policy that will decide how they can connect data centres to the electricity grid. https://www.businesspost.ie/news/amazon-and-google-warn-ireland-risks-long-term-economic-damage-over-data-centre-plans/
- ?According to the Irish Times electric car owners who do not have off-street parking could find themselves in conflict with Dublin City Council’s planning rules if they erect new overhead charging “arms” outside their homes, it has emerged. Electric vehicle (EV) owners without driveways have largely been reliant on public charging points. However, a Dutch-designed product that projects a charging cable across a footpath at a height of approximately 2.3m from a post installed on the homeowner’s property, has recently started appearing across Dublin. https://www.irishtimes.com/ireland/dublin/2024/04/14/electric-vehicle-charging-arms-opposed-by-dublin-city-council/?
- According to the Irish Examiner the broadening in the Middle East war to involve more conflict between Israel and Iran could rattle global markets this week by pushing up energy costs, but won’t likely delay interest rate cuts from the European Central Bank this summer. Preliminary analyses of the economic fallout from the weekend drone attacks on Israel taken in retaliation by Iran for a deadly attack on its embassy in Damascus this month puts the focus back on global oil and gas markets, at a time when energy prices had been steadily rising again. https://www.irishexaminer.com/business/economy/arid-41374201.html
- According to the Irish Examiner European capitals have rebuffed demands from Kyiv to send their air defence systems to Ukraine, after a week of relentless missile and drone bombardments from Russia that destroyed critical energy plants in the war-torn country. Ukraine has long warned that it needed urgent air defence supplies to protect itself against an overwhelming number of Russian rockets targeting the country’s power and heating infrastructure. https://www.irishtimes.com/world/europe/2024/04/12/european-countries-rebuff-kyivs-call-for-more-air-defences-as-russia-hammers-energy-grid/
- As reported by BBC oil prices fell in early Asian trade after Iran's reprisal attack on Israel over the weekend. Brent crude - a key benchmark for oil prices internationally - was lower but still trading close to $90 a barrel on Monday morning. Prices had already risen in expectation of action by Iran, with Brent crude nearing a six-month high last week. Israeli Defence Minister Yoav Gallant has said the confrontation with Iran is "not over yet". Energy analyst Vandana Hari said: "Clearly, the oil market does not see the need to factor in any additional supply threat at this point." https://www.bbc.com/news/business-68812949
- GB news reported that E10 petrol has been praised by a new report for helping to slash emissions around the UK since its introduction in 2021. The Renewable Transport Fuel Obligation (RTFO) Annual Report identified that the introduction of E10 petrol helped slash emissions in 2022. E10 was first launched on English, Scottish and Welsh forecourts in September 2021, with the Government praising the fuel for its environmental qualities. https://www.gbnews.com/lifestyle/cars/e10-petrol-changes-new-fuels-emissions-efficiency-concerns
- In the UK a report by Express stated that experts at the AA have called for car tax Vehicle Excise Duty (VED) changes which would see petrol and diesel owners pay more. Campaigners have suggested those with the keys to electric vehicles should pay less than traditional petrol and diesel cars from next year. EV owners will be charged VED fees for the first time in a major update in April 2025. https://www.express.co.uk/life-style/cars/1888238/car-tax-vehicle-excise-duty-petrol-diesel-electric-vehicles
- In the UK, GB news reported that British motorists are still being battered by expensive petrol and diesel costs as new data found that the average price at the pump was 4p higher than the previous month. When visiting a filling station, drivers can expect to see average prices of around ￡1.48 for petrol and ￡1.56 for diesel. The global price of crude oil jumped in price from mid-March, with Brent Crude now sitting around $90 (￡72.25) a barrel - a total not seen since October 2023. https://www.gbnews.com/lifestyle/cars/petrol-diesel-warning-fuel-prices-rise
