Written answers
Wednesday, 13 November 2019
Department of Finance
Tax Yield
Carol Nolan (Offaly, Independent)
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91. To ask the Minister for Finance when revenue from the carbon tax will be ring-fenced for the purpose of a just transition in the midlands; the timeframe for same; and if he will make a statement on the matter. [46781/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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In Budget 2020 I announced that all new revenues arising from the increase in the rate of carbon tax would be ring-fenced for climate action purposes. It is estimated that the €6 increase in the rate of carbon tax will raise approximately €90 million additional revenue in 2020. These funds will be used to protect those most exposed to higher fuel and energy costs, to build a Just Transition and to support new investment in climate action.
€31 million of this additional revenue will be ring fenced for the Just Transition Package and disbursed to the Department of Housing, Property and Local Government, the Department of Culture, Heritage and the Gaeltacht and the Department of Communications, Climate Action and Environment as detailed in the following below:
| € | Just Transition Package | |
|---|---|---|
| Aggregated Housing Upgrade Scheme | €20 million | Department of Housing, Planning and Local Government |
| Peatlands Rehabilitation | € 5 million | Department of Culture, Heritage and the Gaeltacht |
| Just Transition Fund | € 6 million | Department of Communications, Climate Action and Environment |
Managing the delivery of the just transition package is the responsibility of the Departments listed above.
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