Dáil Éireann Debate, Thursday - 23 May 2024
158. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question No. 292 of 9 April 2024, the projected carbon tax annual revenue in each of the years 2024 to 2030 respectively, with respect to carbon tax increases in each of those years on a cumulative basis. [23480/24]
Amharc ar fhreagraIn July 2023 my Department published a paper examining the Potential Fiscal Impacts of the Transition to a Lower Carbon Economy in Ireland. The paper examined the potential fiscal impacts of current domestic climate action policies including commitments in the Climate Action Plan 2023 and the Programme for Government and is available online : www.gov.ie/en/publication/dd671-potential-fiscal-impacts-of-the-transition-to-a-lower-carbon-economy-in-ireland/.
The analysis provides an overview of the potential exchequer revenue which may be impacted either negatively or positively by current domestic climate action policies. The paper builds on previous work on green budgeting published in 2022 and uses a scenario analysis of policy measures on exchequer revenues between 2023 and 2030.
It should be noted that this analysis is a point in time exercise and forecasted revenue is estimated using forward projected estimates of energy use from the Environmental Protection Agency (EPA) and Sustainable Energy Authority of Ireland (SEAI). Projected energy use data is currently being updated and it is anticipated that updated data relating to energy use and tax will be available in June 2024. On this basis the Department aims to have updated carbon tax projections and analysis available shortly thereafter.
