Mr. Niall Conroy:

I will start and Professor McMahon may pick up on whatever he chooses. On the point around reduced use of fossil fuels and the decrease in revenue we will see there, the Deputy is absolutely right. We have been outlining how reduced use of fossil fuels will reduce our VAT, excise or VRT and all those sorts of things. However, that is assuming the tax system remains as it is at present. At the moment, electric vehicles or electricity is taxed at a much lower rate than fossils fuels. That is open to change. There could be changes. There is a whole menu of options that could be pursued to bring back some of the revenue from car use that would otherwise be falling away. Things like congestion charges have been suggested, as has charging by road use or by weight. There are many different options that could be chosen there.

The other thing I will outline is that sometimes the frame around this can be a bit tricky.

We talk about some of the costs of transitioning away from fossil fuels, but there are also many benefits, such as environmental and health benefits, and improved air quality. We can even see fiscal benefits in that there might be reduced need for health services and things like that. In addition, things like energy security could be improved. Obviously, we are spending a lot of money importing energy from abroad. There is an obvious saving if we are generating that domestically, by wind, solar or whatever else. Professor McMahon may wish to pick up on some of the other topics.