Paul McGrath (Westmeath, Fine Gael)

The price has increased from approximately 80 cent per litre to €1.12 per litre, and even to €1.20 a couple of weeks ago. Is there not a considerable windfall tax accruing to the Exchequer by virtue of the increased cost of fuel? Ireland as an island nation is very susceptible as a consequence, because the freight sector depends on affordable fuel to remain competitive. There is great additional burden on the freight sector involved with exports out of Ireland. Let us not forget that in the past two years during which time Deputy Cowen has been Minister for Finance, the export sector has experienced the two worst years of the past 20. Therefore, is it not important that we keep the sector competitive and do whatever we can to achieve this?

Is it not true that the Minister is collecting from each household €900 more than he had anticipated? Is it not time that he fed back some of the gains he is making to the taxpayer in the interest of competitiveness?

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