Written answers
Tuesday, 30 September 2008
Department of Finance
Price Inflation
11:00 pm
Joan Burton (Dublin West, Labour)
Link to this: Individually | In context
Question 231: To ask the Minister for Finance the expected inflationary impact of increasing excise duty respectively by 10 cent per packet of 20 cigarettes, 10 cent per litre of petrol, 10 cent per pint of beer and 10 cent per bottle of wine; if he will increase excise duties in budget 2009; and if he will make a statement on the matter. [31991/08]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context
I am informed by the Revenue Commissioners that, based on data currently available, the inflationary impact of increasing excise duty by 10 cent per packet of 20 cigarettes, 10 cent per litre of petrol, 10 cent per pint of beer and 10 cent per bottle of wine respectively would be a 0.426% increase in the Consumer Price Index. It is assumed that the Deputy is referring to a 10 cent (VAT inclusive) price increase. A breakdown of the individual estimated additional receipts and CPI effect is as follows:
Additional Total Revenue (Full Year) and CPI effect of Increases of 10c (VAT Inclusive) | ||
Revenue | C.P.I. Effect | |
â'¬m | % | |
Cigarettes (per pack of 20) | 21.2 | 0.041 |
Unleaded petrol (per litre) | 209.6 | 0.245 |
Beer (per pint) | 79.2 | 0.128 |
Wine (per 75cl bottle) | 6.5 | 0.012 |
Additional Total Revenue (Full Year) | 316.5 | |
Total CPI effect | 0.426 |
The Deputy will be aware that it is a long-standing practice of the Minister for Finance not to comment in advance of the Budget on any tax or expenditure matters that might be the subject of Budget decisions.
No comments