Mr. Frank Maughan:

It will be done. We have clear data on carbon tax revenues and on the share of those revenues across different fuel types, whether petrol, diesel, kerosene or marked gas oil. Those data are prepared by Revenue based on the revenue coming to it. I have referred the committee to the tax strategy group paper published by the Department of Finance last week, which sets out these data in some detail, as part of the annual pre-budget consideration of taxation options. On the other side of the equation, we have clear data from the Commission proposal about how much of an allocation Ireland would be expected to get over the seven years of the proposal. There is a difference between the two figures. The annual carbon tax revenues are much higher than the average annual allocation Ireland would receive under this proposal. It is not necessarily the case that all sources of carbon tax would be supplanted by this. There are potentially other sources of carbon tax application which would not be covered by the EU emissions trading system, EU ETS, proposal. The big issue that will be at play in the negotiations will be precisely where the EU ETS will land and what sectors it will cover. That will impact on this too. There are a number of different elements to this, which are all moving parts as the negotiations under the two proposals progress. We will examine these things in some detail in the months ahead.

There was a question about the relationship between the Fit for 55 targets and the climate legislation that the Oireachtas enacted in July. I will pass over to Mr. Regan to address that question.