James Bannon (Fine Gael)

The latest increase in the price of oil brings the cost to more than €1 per litre. This has the capacity to bankrupt individuals and small and medium-sized businesses. People from the midlands travel up to 160 miles per day to and from their place of work. For a medium-sized car, this costs around €16,000 per year. It is like having a second mortgage and puts a major dent in people's income. It will bring about bankruptcy and people will be forced to give up their jobs. I call for a debate on the possibility of the Government's removing the 5% tax it imposed on fuel in the last budget. It should do this as a goodwill gesture to the people who commute each day and to small and medium-sized businesses.