Sinn Féin spokesperson for Communications, Energy and Natural Resources, Michael Colreavy TD has today welcomed the news that an estimated one billion barrels of oil have been found off the coast of Kerry.
However, Deputy Colreavy has also highlighted the poor tax take from Irish oil and gas.
Speaking from Leinster House today Deputy Colreavy said: "It is encouraging to hear that there has been a discovery of oil off the south west coast. Such a find indicates the potential wealth that lies off the Irish coast in oil and gas reserves. We should use this opportunity to reassess the taxation terms that we place on oil and gas companies.
"At the moment oil and gas companies pay very little tax on oil and gas that they extract from Irish waters. In fact, Ireland has one of the lowest tax rates for oil and gas companies in the world.
"Sinn Féin calls for a 50% tax on oil and gas profits and a 7.5% royalty. If we do not act now to redress the tax system, oil finds such as the one off the coast of Kerry could be effectively worthless to the Irish people."
Time and date
Construction work has started to develop over 20 social homes in Sligo. The 22 properties at Fr O'Flanagan Terrace will be a mix of one, two and three bedroom houses and apartments, which are designed to achieve an A3 BER rating, making them some of the most energy efficient houses in the town. T
An interactive energy portal where visitors can explore Ireland's energy use since 1990 has been launched by the Sustainable Energy Authority of Ireland (SEAI). The visualisation tool uses data and figures from SEAI's publications on energy statistics and projections. The interactive charts provi
Work is to start on a £110,000 road improvement project in Carrowdore, Co Down. The work on the Upper Gransha Road is scheduled to commence on Monday, 27 February. The resurfacing scheme is expected to be substantially completed by the end of March. It will greatly improve the strength and surface
The UUP has hit out at the DUP for refusing to answer questions in relation to the botched Renewable Heat Incentive (RHI) scheme which is set to cost the public purse around £490million. Ulster Unionist Assembly candidate for Upper Bann, Doug Beattie MC, called on the party to explain their role in
Sinn Fein has slammed the government after it was revealed that only just over 650 social housing units were delivered in 2016. According to the Social Housing Construction Projects Status Report for 2016 the majority of the developments, over 70% of the social housing units announced, are being he
Sinn Féin has said the outline plan for social and economic regeneration in the north inner city doesn't deal with the "wider and longer term issues in the area". However, spokesperson on urban regeneration Deputy Ellis welcomed the "positive aspects" of the plan. He said: "Successful urban regene
Fianna Fáil has proposed the introduction of an Empty Property Grant Scheme. The party's aim is to encourage owners to lease properties to Approved Housing Bodies (AHB) or rent directly to tenants nominated by Local Authorities on long-term leases. Spokesperson on Housing Barry Cowen TD said the
Lecture Theatre - Engineers Ireland, 22 Clyde Road, Dublin Friday 24 March 2017 Differences will always occur on construction projects and parties require solutions. Dispute avoidance methods and early intervention in construction disputes can allow works to proceed without delay or extra co
Fianna Fail is calling for new homes to be developed in Carlow and Kilkenny. The party made the call to help provide a solution over the housing and rental crisis which is continuing throughout Ireland. Fianna Fáil Senator Jennifer Murnane O'Connor said the shortage of accommodation has led to exc
AECOM Design Build Ireland (ADBI) has been acquired by Murphy. The decision to buy ADBI helps Murphy broaden its water offering to meet market needs. ADBI's clients include Irish Water and Northern Ireland Water. The new acquisition will strengthen Murphy's existing presence in the sector by brin