Nationalize all energy companies and give every household €1,000 in Budget 2023 – People Before Profit

PEOPLE Before Profit has proposed nationalizing utilities, capping electricity and gas bills and giving every household in the 2023 budget a €1,000 energy credit.

The party has outlined an alternative budget package of €25 billion in new tax measures – on top of what the government proposes to spend in next week’s budget – that would fund a €32.5 billion spending package.

This would include raising all welfare rates to at least €300 per week and €350 for people with disabilities.

The party also proposes imposing rent controls and doubling down on the provision of social and affordable housing, including home purchases, if tenants receiving the Housing Benefit Payment (HAP) or Rent-Apartment Scheme (RAS) face eviction. People Before Profit also wants to introduce free public transport, abolish carbon taxes, introduce free GP care for all, restore the retirement age to 65 and abolish the universal social security contribution.

PBP’s environment spokesman Bríd Smith said free public transport would cost €500 million, while scrapping the “fundamentally unfair” carbon tax would cost €761 million.

The measures would include an increase in corporate tax to 20 percent, four new tax brackets for people earning €100,000 or more a year, a tax on commercial aviation, an increase in employer PRSI and an increase in capital gains tax, among other measures .

Among the far-left party’s most salient proposals is the nationalization of the utilities sector, first by removing the ESB’s €2.5 billion commercial mandate for price controls in the energy sector.

Enlisting the ESB to act on a not-for-profit basis would depress the prices of competitors, who would then be bought up by the market under the plans, the party said.

People Before Profit TD Richard Boyd Barrett said: “We’re talking about full-scale renationalization. Let’s call it what it is, we used to have a nationalized energy sector. We have privatized and deregulated this sector. It was a failure.

“Consumers should benefit, competition should lead to lower energy and electricity prices. In fact, they have steadily increased since the sector was deregulated. In view of the current crisis, we want to reverse this process.”

Mr Boyd-Barrett lashed out at the “absolutely obscene profits of energy companies”.

His party colleague Paul Murphy said everyone in the country would be “lifted out of poverty” by blanket welfare increases.

Mr Boyd-Barrett said the party’s proposals were an “investment to save money now down the line”. Nationalize all energy companies and give every household €1,000 in Budget 2023 – People Before Profit

Fry Electronics Team

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