Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

We discussed this to some extent on Committee Stage. My view is that we should give a longer-term commitment. One year is too short from the point of view of a company or employer investing in vehicles. They need more certainty. The Minister indicated on Committee Stage that the intention was to keep it for a longer period of time. He should formalise that in the Bill.

Yesterday, the Minister for Communications, Climate Action and Environment, Deputy Denis Naughten, said the exemption would be in place for three years. That is not what the Finance Bill, as currently constructed, actually states. The Minister might clarify the Government's policy, as well as from the point of view of employees. If they think they will have a benefit-in-kind exemption for 12 months that may affect their decisions in terms of whether it is worth their while accepting it.

In the booklet issued on budget day, the Minister indicated that the cost was €0.5 million, which is extremely modest. We are well behind the curve in terms of tackling climate change. We are facing substantial fines in three years' time, and we need to show greater commitment to this issue. The Minister should extend the period from one year. A period of three years would be reasonable, and I look forward to what the Minister has to say on that.

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