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GOVERNMENT IS EXPECTED to move to cut excise on petrol and diesel in the next week or two.
The Journal reported earlier this week that senior sources said that should the €2 per litre mark for petrol and diesel be breached, the Government would have no choice but to step in.
Leo Varadkar signalled on Friday that the Government will intervene on costs before the budget in October.
The Tánaiste indicated to the Dáil this week that excise will need to be reduced in order to tackle the spiralling costs at the pumps.
Senior Government sources have told The Journal that while nothing is signed off on yet, a cut is on the cards soon.
“I would think in the next week or so,” said one senior source.
About 60% of pump prices are due to tax, including VAT and carbon tax, according to figures from the AA.
Due to excise receipts for the two months to the end of February being up €37 million on same period last year (this figure also includes alcohol sales), it is understood the Government believes there is some wriggle room for action to be taken.
As excise is a domestic tax, Government sources say it is an easier step to reduce it, rather than tinkering with VAT, as it is governed by an EU Directive.
The EU is currently preparing a white paper on how to deal with the cost in the rise of energy which could deal with the issue of VAT. The Taoiseach has said this should be completed within the next ten days.
On how Government plans to go about reducing excise, the same source said: “It would need legislation, but it is doable.”
Another said it is “pretty simple, you can just reduce it” stating that it is just “X cent per litre”.
While the Government has no estimate as to just how high fuel costs will go in the coming weeks, it is understood that “it could get much worse”.
When asked if it could hit €2.50 per litre, those in government circles said “you couldn’t rule it out”.
While a cut in excise would be a revenue loss, the Government’s thinking is that it would help tame inflation as high energy costs feed into everything.
While it has been indicated that the Green Party would not be keen on a move to reduce excise, it was also suggested that the Finance Minister Paschal Donohoe would also not be too happy on any changes in taxation before the Budget.
Sources have reiterated what the Taoiseach said last week in terms of pressing ahead with the carbon tax increase.
Carbon tax is due to increase for home fuels in May, but is not due to increase on petrol or diesel until October.
“We don’t want to cut that,” said the same source, stating that it is ring fenced for “good stuff”.
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I suddenly really like Taylor Swift.
@Banana Rama: Me too. She had been annoying me a bit but now I really like her again.
@Veronica:
And the fickle circle of celebrity fandom is complete
@DarkHorse: Indeed.
@DarkHorse: what have you done for humanity? Please we’re all ears.
@Deborah Behan:
Strange question seen as I haven’t criticized Ms Swift
@DarkHorse: I dont think Deborah understood
Taylor swift has annoyed me for a while now but she has been really brilliant throughout this whole situation. The fact that she only countersued for a dollar and then made a charitable donation says a lot about her character. Fair play!
@Laura Walsh: Says a lot about her bank balance also…well done Taylor. That fella must be a right sleaze
@p kilgannon: she does state in the article she is aware that she is not like most victims in that she could shoulder the huge cost to defend herself
Well done to Taylor Swift. Stopping a potential Jimmy Saville, how many women would not be in a position to go after a creep like this.
She’s worth a lot more than $44m. Her property portfolio alone is almost $100m. Conservative estimates put her at $300m.
@OU812: What? she’s successful? How dare she!
And she’s from a comfortable background? Well, that’s just totally unacceptable to a begrudger like me!!
@David Murphey: gimp
@Alan O’Rourke: Wha’?
@Alan O’Rourke: why are you calling him that name ? He was being sarcastic and pointing out her wealth has nothing to do with getting assulated. She admits herself that she was privileged to be in a position to defend and countersue
@David Murphey:
I’m not quite sure what you’re on about & suspect you are too.
@Alan O’Rourke: Name calling like a child in a playground. I’m embarrassed for you.
@Ian Walsh: lolz
He can fondle my buttocks for half a million.
@Pat Troy: I’d say you might have to pay him the half a million though. Taylor Swift on the other hand only countersued him for one dollar. ( only after he tried to sue her ). She only wanted vindication and justice!!
@Catherine Sims: well she doesn’t need the money in fairness..
@Toon Army: She never looked for money and it wasn’t about money but if if hadn’t been for her money this mans actions would probably have gone unchecked .
@Catherine Sims: lol
@Catherine Sims: you really hurt my feelings.
Mariska Hargitay is still playing Olivia Benson as the show is still running. She is Jayne Mansfields daughter too.
Have to say she handled this whole episode with class right from the word go and the charitable donation was the icing on the cake. Still doesn’t alter the fact that her music is absolute pop pap crap tough.
@Emmet Dillane: You may not like her music but millions of young people do and hopefully it will encourage anyone who is the victim of sexual assualt to come forward now. Women men and children anyone !!!
I’m delighted to see such a shift in attitudes. When I was a teenager it was very common to have auld fellas just slap your ass as you passed them on the street . Gardai would laugh at you if you complained too. The only warning you would get is that the auld fellas used to bless themselves before they did it. Sometimes if gave you the chance to run. That’s what was happening in public regularly!!! That was the 80s. Not all that long ago where it was funny to assault teenage girls. One auld guy didn’t realise I was with my mother one day and she just let rip on him. He got shopping bags full of tins beaten off his head. Then she started on him with the umbrella. No one else would stand up for you though. Horrible times !!!
@Catherine Sims: Blessing himself for his act of fornication that will see him hurled into an inferno upon death had he
Not all men are guilty. Just remember the miscarriage of justice in the Homer Simpson Gummy Bear case
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