Businesses unlikely to get energy cost supports this winter, hints McGrath

Oil prices are set to rise for a second week as the Israel-Palestine war shows no signs of ending

The minister made his comments while visiting Cork to discuss how the State has been responding to the devastating floods that has caused destruction to many homes and businesses especially in Midleton and Glanmire.

Finance Minister Michael McGrath suggested there will be no additional energy cost supports for businesses as the winter months loom, despite two wars putting pressure on the markets.

Mr McGrath said he acknowledges the “volatility” of the energy markets, driven by conflict in Ukraine and in Gaza, but added that the Government is focused on increasing consumer spending which he said will eventually help businesses offset any further rising costs.