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Sat, 28 Mar 2026

Sat, 28 Mar 2026 How will energy crisis hit Ireland's economy?

Taoiseach (Prime Minister) Micheál Martin said Ireland's economy enters the crisis from a position of "relative strength".
- Petrol and diesel taxes have been cut - An extra €150 benefit will be given to around 470,000 of the poorest households (totaling just under €250m) - The package is considered modest compared to the estimated €12bn in supports given during the last energy crisis - Ministers emphasize the targeted nature of the help and leave room for more support if needed - Ireland's economy starts from a "position of relative strength" due to a budget surplus and a record number of people in work, but growth is expected to slow to below 3% this year with inflation rising to almost 3% - A prolonged conflict could see growth fall closer to 2% and inflation move above 4%, squeezing living standards - There are concerns about the impact on housing prices and construction costs due to increased energy prices