Michael McGrath
Question:76 Deputy Michael McGrath asked the Minister for Finance the cost to the Exchequer of each of a 5 cent, 10 cent and 20 cent reduction in tax excise and VAT included on consumer liquid motor fuels. [36119/12]
View answerThursday, 19 July 2012
Questions (76)
Written answers
I am advised by the Revenue Commissioners that the annual cost to the exchequer of the changes mentioned in the question are estimated as follows:
|
Reduction |
Petrol €m |
Diesel €m |
|
5c |
80 |
98 |
|
10c |
162 |
197 |
|
20c (18.33c diesel) |
327 |
365 |
It should be noted that maximum decrease permissable for diesel is 18.33 cent. Accordingly the yield figure of €365m shown for diesel represents a decrease of 18.33 cent not 20 cent.