Tuesday, 6 October 2026

Ireland will use its annual budget package to address high energy costs while trying to moderate spending growth, according to Global Banking and Finance. The total cost of Budget 2027 is expected to reach EUR 8.5 billion, with the full list of changes set to be unveiled on Tuesday, according to the Offaly Independent.

The package puts money behind household energy upgrades. Minister for Energy Darragh O'Brien confirmed that a boiler scrappage scheme went to Cabinet, allowing grants of up to EUR 14,500 to replace oil boilers with heat pumps or newer technologies, the Offaly Independent reported. A separate EUR 600 grant will let households install storage batteries as part of a solar package investment.

The spending side carries a tighter frame. Finance Minister Harris and Public Expenditure Minister Jack Chambers pledged to keep spending increases below 6% next year, compared with an average of around 10% from 2022 to 2025, according to Global Banking and Finance. The budget day package is set to be less generous than a year ago.

The UK government sanctioned eight ships in a new package targeting Russia's efforts to maintain gas revenues and circumvent Western restrictions, according to Ship & Bunker.

The LNG tankers named in the sanctions notice include Chaivo, Portovyy, Aleksey Kosygin, Konstantin Posiet and Pyotr Stolypin, Ship & Bunker reported.

The sanctioned ships will be subject to UK shipping and trade restrictions.