Dáil Éireann Debate, Tuesday - 1 October 2019
157. Deputy Micheál Martin asked the Minister for Public Expenditure and Reform the way in which the hypothecated fund will be realised; and the way in which fuel poverty will be protected when carbon taxes are introduced. [39634/19]
Amharc ar fhreagraIn the recent Climate Action Plan the Government committed to implementing a carbon tax rate of at least €80 per tonne by 2030, accompanied by a trajectory of increases over successive annual Budgets. This commitment will send a strong signal to householders and firms of the need to invest in low-carbon alternatives, where possible.
As has been noted publicly, it is my intention that any new revenue raised from any increase in the carbon tax in 2020 will be ring-fenced and used to fund new climate action measures and to ensure a just transition for those most impacted by the transition to a low carbon economy. As the Deputy will appreciate, I cannot comment further on any possible taxation changes or the use of any associated revenues beyond what I have already said, in advance of Budget Day.
