Dáil Éireann Debate, Tuesday - 8 February 2022
261. Deputy Darren O'Rourke asked the Minister for Finance the amount of carbon tax raised in each of the years 2017 to 2021; the amount from each year not ring-fenced for climate action; the way that the non-ring-fenced revenue was spent in each year; and if he will make a statement on the matter. [6611/22]
View answerThe revenue raised from Carbon Tax from 2017 to 2021 is set out in the table below. Please note that figures for 2021 are provisional.
|
Year |
Carbon Tax Revenue (VAT exclusive) |
|
2017 |
€419,603,362 |
|
2018 |
€431,131,924 |
|
2018 |
€430,461,735 |
|
2020 |
€493,572,969 |
|
2021 |
€652,287,332 |
As announced in Budget 2020 and further endorsed by the 2020 Programme for Government, additional revenue estimated to arise from Carbon Tax rate increases above the baseline rate of €20 per tonne of Carbon Dioxide emitted is being ring-fenced while revenue raised from the baseline rate goes to the central Exchequer. Hypothecated Carbon Tax revenue is allocated for expenditure on measures relating to fuel poverty prevention, ensuring a just transition, funding a national retrofitting programme and funding to encourage and incentivise farmers to farm in a greener and more sustainable way.
Further detail of specific allocations and expenditure measures is set out in publications on the www.budget.gov.ie website ; The Carbon Tax Increase - What it will be spent (Budget 2020), The Use of Carbon Tax Funds (Budget 2021) and Budget 2022, The Use of Carbon Tax Funds.
Information regarding the annual expenditure from the central exchequer is published by the Department of Expenditure and Reform at the website address below:
whereyourmoneygoes.gov.ie/en/
