Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

As the Deputy is aware, in July 2023 my Department published a paper examining the Potential Fiscal Impacts of the Transition to a Lower Carbon Economy in Ireland. The paper examined the potential fiscal impacts of current domestic climate action policies including commitments in the Climate Action Plan 2023 and the Programme for Government and is available online: www.gov.ie/en/publication/dd671-potential-fiscal-impacts-of-the-transition-to-a-lower-carbon-economy-in-ireland/

This analysis is a point in time exercise and multi annual forecasted revenue is estimated using forward projected estimates of energy use from the Sustainable Energy Authority of Ireland (SEAI). Projected energy use data is currently being updated and in the coming months my Department will use this data for further updated analysis on potential fiscal impacts arising from the climate transition.

The analysis will consider both the With Existing Measures (WEM) and With Additional Measures (WAM) scenarios and will therefore provide a range of potential fiscal impacts on these scenarios. As projected carbon tax revenue is based on energy use data, this analysis will provide a projected range of carbon tax revenue arising from both scenarios.