The Government has announced today a packet of emergency measures designed to alleviate the wallets of residents facing sharp increases in petrol, electricity, gas and shopping bills..
Additional measures aim to stop companies profiteering by raising prices unreasonably, protecting employment and rental tenants are expected tomorrow.
Current measures include a 60% reduction of IVA on electricity and 10% on gas.
The tax on the value of electricity production will be temporarily suspended and the special tax on electrcity will be reduced from 5% to 0.5%.
There will also be a reduction on the tax on the price of natural gas, pellets and firewood.
Professionals in transport, livestock farmers, fishing industry and farmers will benefit from a 20 cents direct payment on a litre of petrol/diesel.
There will also be an equivilant payment to help with the purchase of fertilizers: «in order that these sectors can weather the crisis and also contain the prices in the shopping basket.»
The maximum price of butane and propane gas will be frozen during one year.
There will be extraordinary discounts on the bono social for electricity and cutting off basic supplies to vulnerable homes will be prohibited.
Companies that have received public funds are banned form sacking workers during the crisis.
The tax benefits of rehabilitating properties, installing solar panels and/or buying an electric car will be extended in the next package of measures to be announced.
Rental increases are expected to be frozen.
