Dáil Éireann Debate, Tuesday - 24 January 2023
155. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of extending the reduced rates applicable to petrol and diesel until the end of June 2023; his plans regarding rates of excise in the context of the cost-of-living crisis; and if he will make a statement on the matter. [3148/23]
View answerI am advised by Revenue that the estimated total cost of extending the reduced rates of Mineral Oil Tax (MOT) applicable to petrol and diesel until the end of June 2023 is €240.5 million.
The breakdown of costs is shown in the following table.
|
Fuel Type |
MOT €m |
VAT €m |
Total €m |
|
Petrol |
54.4 |
12.5 |
67.0 |
|
Diesel |
161.6 |
11.9 |
173.5 |
These estimates are based on recent consumption data and do not account for any behavioural change.
As per the 2022 Finance Act these reduced rates are set to expire on 28th February 2023. In making any decision the Government will balance the costs of the measures in question against their impact.
