Fuel excise duty reduction
Seamus Kirk asks whether falling crude prices can lead to lower petrol and diesel excise duty; the Chair directs him to submit a question, while the Minister says the Finance Bill is before the Seanad.
The Minister is probably aware that the price of Brent crude oil has dropped significantly on the world market, with potential benefit for motorists, transporters and the overall economy. Unfortunately, the full extent of the reduction has not manifested itself for consumers because of the excise duty structure attached to the cost of diesel and petrol.
Comment on this
Is there any way at all that the Finance Bill could be revisited to accommodate a reduction in the excise duty which would give a real boost to the economy by reducing transport costs?
Comment on this
The Finance Bill is before the Seanad and it would be the appropriate forum for somebody to raise the issue.