The public consultation on options for revising the VRT system to take greater account of CO2 emissions was announced on Budget day and I invited interested parties to make submissions to my Department by 1 March 2007. A summary of a number of possible options which are under consideration by my Department was contained in the Budget 2007 documentation and a longer consultation document has also been placed on my Department's website. In addition, an invitation for submissions was advertised in the national daily newspapers on 15 December 2006.
From March the Excise Policy Section of my Department in conjunction with the Office of the Revenue Commissioners will examine the submissions received and liaise with other relevant Departments and Offices as appropriate. As part of this process it is likely that there will be meetings with a number of those who have made submissions, in particular the key stakeholders. This will provide the opportunity to delve further into ideas which may emerge from the written submissions.