Catherine Murphy (Kildare North, Independent)

I understood there would be a 4 cent or 5 cent reduction in the cost of fuel and a quarterly review. I understand the cost of what is proposed is somewhere in the region of €150 million. I could be slightly wrong but I know the figure is substantial.

I acknowledge there is a serious problem. There is no doubt that the cost of getting to work has become much more expensive and the cost of doing business is expensive because of rising fuel prices. The rise is not exclusively attributable to taxation. The era of cheap fuel is over. It appears Ireland is at the middle of the table in terms of Exchequer revenue from excise duty.

In respect of another Bill, I sought the ring-fencing of the carbon tax. I understand the tax accounts for approximately 7 cent of a litre of fuel. Revenue therefrom should be spent on developing renewables. Some of the revenue is spent on retrofitting houses. However, if we are to move away from fossil fuels to renewable energies, we must ring-fence money and not put it into a general fund. If we do the latter, the tax will be only an excise duty and not a carbon levy with a definite purpose. Approximately 17% of our energy has come from renewable sources in recent years. The percentage has grown substantially.

I acknowledge people are hurting with regard to family finances. We are largely in the position we are in because of the chaotic way in which the country developed. The lack of a connection between land use and transport planning and the lack of investment in public transport have led us to where we are. If there is a party that is most guilty owing to its policy approach and a party that knew there would be a problem because of our being close to peak oil, it is the party that was in government for the majority of the lifetime of this State. I acknowledge there is a problem. The Minister for Finance stated he is not intent on accepting this Bill. All the Bill does is put the matter on the agenda in a populist way.

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