Dáil Éireann Debate, Tuesday - 15 February 2022
302. Deputy Darren O'Rourke asked the Minister for Finance further to Parliamentary Question No. 261 of 8 February 2022, the breakdown of carbon tax income by year and categorised baseline, additional and total. [8356/22]
Amharc ar fhreagraThe full yields for carbon tax revenue for the years in question are set out in the table below:
|
Year |
Carbon Tax Revenue (VAT exclusive) |
|
2017 |
€419,603,362 |
|
2018 |
€431,131,924 |
|
2019 |
€430,461,735 |
|
2020 |
€493,572,969 |
|
2021 |
€652,287,332 |
In Budget 2020, the additional yield estimated to arise from the €6 increase was €90 million in 2020. This figure was allocated for expenditure as detailed in the document “ The Carbon Tax Increase, What it will be spent on”, referred to in response to the Question No. 261 and available on the Budget.gov.ie website.
In Budget 2021, the additional yield estimated to arise from the €7.50 increase was €108 million in 2021. This figure was added to the estimated additional yield arising from the full year increase of the €6 increase, which was €130 million, so the allocation of carbon tax funds for specific expenditure that year was €238 million. The specific allocation of funds is set out in the document “Budget 2021 The Use of Carbon Tax Funds 2021”, also referred to in response to Question No. 261 and also available on the budget website.
For clarity, the yearly carbon tax revenue allocated for specific funding of targeted welfare measures, energy efficiency improvements, the Just Transition and funding to encourage greener and more sustainable farming methods is set out in the table below. This policy began in 2020, so no yearly allocations are relevant for prior years. As referred to above, more detail on the specific allocations of funding is set out in the documents published by DPER and available on the budget.gov.ie website.
|
Year |
|
|
2020 |
€90,000,000 |
|
2021 |
€130,000,000 |
