Oireachtas Joint and Select Committees

Tuesday, 20 June 2017

Committee on Budgetary Oversight

Irish Fiscal Advisory Council: Discussion

4:00 pm

Mr. Eddie Casey:

It looks as though we are unlikely to meet the targets for emissions by 2020. The fiscal implications for that in terms of having to purchase additional credits do not look to be drastically large. Estimates from an independent source were in the region of €230 million to €600 million by 2020. They expanded largely after that period. By 2030, Joseph Curtin has produced estimates of €2.7 billion to €5.5 billion, so they tend to ramp up quite quickly after the 2020 period. As the Deputy correctly noted, it depends on how the setting of those targets after 2020 will be treated. In terms of the horizon we look at, which is out to 2021, they do not look to be that large a risk.

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