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Carbon Tax Yield

Dáil Éireann Debate, Thursday - 29 November 2018

Thursday, 29 November 2018

Questions (65, 66, 67)

Michael McGrath

Question:

65. Deputy Michael McGrath asked the Minister for Finance the estimated yield of increasing the carbon tax by values (details supplied) by each carbon fuel type in tabular form; and if he will make a statement on the matter. [49948/18]

View answer

Michael McGrath

Question:

66. Deputy Michael McGrath asked the Minister for Finance the estimated yield per year of increasing the carbon tax incrementally from €20 per tonne to €100 per tonne over a five year period by each carbon fuel type in tabular form; and if he will make a statement on the matter. [49949/18]

View answer

Michael McGrath

Question:

67. Deputy Michael McGrath asked the Minister for Finance the estimated yield per year of increasing the carbon tax incrementally from €20 per tonne to €100 per tonne over a ten year period by each carbon fuel type in tabular form; and if he will make a statement on the matter. [49950/18]

View answer

Written answers

I propose to take Questions Nos. 65 to 67, inclusive, together.

I am advised by Revenue that increasing the Carbon Tax from €20 per tonne to €100 per tonne by the values supplied would give the estimated yield for each carbon fuel type as shown in the table below. These estimates are based on the current volumes for each commodity and include both the increased Carbon Tax and the net VAT chargeable on that amount.

Carbon Tax Rate

€25

€30

€35

€40

€80

€100

€m

€m

€m

€m

€m

€m

Auto-diesel

207

248

289

331

661

827

Petrol

69

83

96

110

220

275

Kerosene

74

89

104

119

237

297

Marked Gas Oil

73

88

103

118

235

294

LPG

12

15

17

20

39

49

Fuel Oil

2

3

3

4

7

9

Natural Gas

67

81

94

107

215

269

Peat Briquette

6

8

9

10

21

26

Coal

21

26

30

34

68

85

Total

533

639

746

852

1,704

2,130

I am further advised by Revenue that increasing the Carbon Tax from €20 per tonne to €100 per tonne over a five-year or ten-year period would give the estimated yield for each carbon fuel type as shown in the tables below. These estimates are based on the current volumes for each commodity and include both the increased Carbon Tax and the net VAT chargeable on that amount.

-

Year 1

Year 2

Year 3

Year 4

Year 5

Carbon Tax Rate

€36

€52

€68

€84

€100

€m

€m

€m

€m

€m

Auto-diesel

298

430

562

694

827

Petrol

99

143

187

231

275

Kerosene

107

154

202

249

297

Marked Gas Oil

106

153

200

247

294

LPG

18

26

33

41

49

Fuel Oil

3

5

6

7

9

Natural Gas

97

140

183

226

269

Peat Briquette

9

13

18

22

26

Coal

31

44

58

71

85

Total

767

1,108

1,449

1,790

2,130

-

Year

Year

Year

Year

Year

Year

Year

Year

Year

Year

1

2

3

4

5

6

7

8

9

10

Carbon Tax Rate

€28

€36

€44

€52

€60

€68

€76

€84

€92

€100

€m

€m

€m

€m

€m

€m

€m

€m

€m

€m

Auto-diesel

231

298

364

430

496

562

628

694

760

827

Petrol

77

99

121

143

165

187

209

231

253

275

Kerosene

83

107

131

154

178

202

226

249

273

297

Marked Gas Oil

82

106

129

153

176

200

223

247

270

294

LPG

14

18

22

26

30

33

37

41

45

49

Fuel Oil

2

3

4

5

5

6

7

7

8

9

Natural Gas

75

97

118

140

161

183

204

226

247

269

Peat Briquette

7

9

11

13

15

18

20

22

24

26

Coal

24

31

37

44

51

58

65

71

78

85

Total

597

767

937

1,108

1,278

1,449

1,619

1,790

1,960

2,130

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