Finance Bill 2026: Second Stage
Seanad Éireann — 2026-07-02
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Pat Casey (FF), Labour Panel

I welcome the Minister of State to the House this morning. I also welcome this opportunity to speak on the Finance Bill and its passage through the Senate.
The Finance Bill is important and practical legislation that gives full effect to the energy and cost-of-living measures already approved by Dáil Éireann. It forms part of the Government's response to the significant pressures experienced by households, farmers and businesses as a result of the high energy costs.
The Government acted decisively when international energy markets became increasingly volatile. Excise duty was reduced on diesel by 32 cent per litre, on petrol by 27 cent per litre and the rate on marked gas oil or green diesel was also significantly reduced. In addition, the planned increase in carbon tax was deferred providing further relief for households and businesses. These measures are particularly important for working families who continue to face the pressure of household budgets.
While fuel prices have eased somewhat, many people remain concerned about the wider cost of living, including housing, transport and everyday expenses. In that context, the Government's intervention was both necessary and responsible.
The Finance Bill is important for key sectors of the economy like farmers, hauliers, contractors, bus operators and small businesses as all depend heavily on fuel. The temporary enactment of the diesel rebate scheme has provided important support to these sectors and helped to limit wider inflationary pressures.
The Government has also announced the extension of the temporary excise reduction and NORA levy reduction until the end of August, followed by a phased restoration of the rates between September and December. This is a balanced approach and avoids a sudden increase in cost while allowing supports to be withdrawn gradually as market conditions improve. Importantly, it provides certainty. Families and businesses can plan ahead knowing that a return to normal excise rates will be measured and predictable.
While energy prices have declined from their earlier peaks, international circumstances still remain uncertain. It is, therefore, prudent that the Government continues to closely monitor developments and respond when necessary. Overall this Bill represents a practical response to extraordinary global circumstances, supports families, protects jobs, assists vital sectors of the economy and helps to shield people from external energy shocks beyond their control. For those reasons, Fianna Fáil will be supporting this Bill.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-07-02/debate/main
Retrieved: 2026-08-14T04:55:09+00:00
Sitting date: 2026-07-02