Written answers
Thursday, 30 July 2020
Department of Finance
Carbon Tax Yield
Darren O'Rourke (Meath East, Sinn Fein)
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294. To ask the Minister for Finance the annual revenue raised from the carbon tax in each year from its introduction up to 2019, in tabular form; and if he will make a statement on the matter. [19613/20]
Darren O'Rourke (Meath East, Sinn Fein)
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295. To ask the Minister for Finance the estimated annual revenue that will be raised from the carbon tax in each year from 2020 to 2025; and if he will make a statement on the matter. [19614/20]
Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 294 and 295 together.
I am advised by Revenue that the annual receipts raised from Carbon Tax in each year from 2010 to 2019 are published on the Revenue website at the following link:
.
Revenue has also advised me that forecasts for Carbon Tax receipts in each year from 2020 to 2025 are shown in the following table.
Year | €m |
---|---|
2020 | 500 |
2021 | 560 |
2022 | 560 |
2023 | 560 |
2024 | 560 |
2025 | 560 |
The forecast for 2020 is based on the expected receipts having regard to the fall in consumption due to COVID-19 restrictions and my Department’s macro-economic projections from the April 2020 Stability Programme Update. The forecasts for 2021 to 2025 are based on normal annual consumption levels.
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