Seanad debates

Thursday, 22 March 2012

Finance Bill 2012 (Certified Money Bill): Committee and Remaining Stages

 

1:00 am

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)

I heard a very well-known representative of the motor industry claim on RTE that the VAT increase had driven the price of a litre up to €1.60. Two per cent of €1.50 is €0.03, which does not result in an increase to €1.60. One can calculate this for oneself. Many of those who did not want the increases campaigned on the basis that all increases to the prices of diesel and petrol were attributable to the tax increases. They are not. There are wider international factors driving up the prices of petrol and diesel, and these are far more potent than any measure in the budget.

My second point is on carbon emissions. I have not heard anyone talk about global warming in the past six months. Do Members remember when one could not enter the Dáil or Seanad without having someone preach about global warming?

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