Tuesday, 23 July 2019

Questions (147)

Thomas P. Broughan


147. Deputy Thomas P. Broughan asked the Minister for Finance the expected yield in budget 2020 from increasing carbon taxes to €30, €40 and €50 per tonne, respectively; the way in which he plans to introduce incremental increases to bring the tax up to €80 per tonne by 2030; and if he will make a statement on the matter. [33190/19]

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Written answers (Question to Finance)

Carbon tax receipts in 2018 were €431 million based on a rate of €20 per tonne. Increasing the carbon tax to €30, €40 and €50 per tonne, respectively, would raise an additional €215 million, €430 million and €645 million, respectively, applying a static calculation.

As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.