VAT cuts on electricity and gas to be extended until October

Cuts to the VAT rate charged on electricity and gas will last until the end of October.

Ministers approved a package of measures aimed at reducing the cost of living at a Cabinet meeting earlier today.

The VAT cuts will be worth around 50 euro a year on an annual gas bill, and 70 euro a year for electricity.

Finance Minister Paschal Donohoe also confirmed the existing cut in excise on petrol and diesel will be extended until the budget.

The PSO levy on energy of 50 euro a year is also being waived, and those on fuel allowance will be paid 100 euro in mid May to help with their bills.

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