Latest news with #CarbonTax
RTÉ News
5 days ago
- Automotive
- RTÉ News
Government revenue from taxing fossil fuels expected to drop
New documents published by the Department of Finance have warned that the Government's revenue from taxing fossil fuels will drop as consumers move to using electric cars and heat pumps. The Tax Strategy Group paper says as the reliance on fossil fuels declines for energy and transport, the revenue raised by environmental taxes will also reduce. The paper takes into consideration Ireland's legally binding climate commitment to reduce Greenhouse Gas (GHG) emissions by 51% by 2030 and to achieve carbon neutrality by 2050. It highlights that over the next six years (from 2025 to 2030), it is projected that the net carbon tax volume levels of mineral oils, solid fuels and natural gas usage will fall, and estimates indicate that net carbon tax energy related CO2 emissions will also decline. In the longer term, this will mean revenues raised by environmental taxes, such as the Carbon Tax, derived mainly from home heating, petrol and diesel, will decrease and will need to be replaced by other revenue raising measures. The group's paper notes that while taxation of energy products should incentivise consumers and industry to make better choices for the environment, policy consideration of any tax measure needs also to be cognisant of a range of factors. These include the impact on the Exchequer, availability of viable alternatives, competitiveness impacts, potential regressive impacts and interaction with adjacent policy measures. Budget options to raise money The paper recommends budget options, including fiscal measures, to potentially raise money for the Exchequer and encourage behavioural change linked with reducing road transport emissions. It suggests if a 1% VRT rate increase was considered across bands 11-20, such as hatchbacks and SUVs, which would only affect cars with above average emissions, then it is estimated to raise €28 million based on 2024 registrations. While increasing the VRT Nitrogen Oxide surcharge by €5 per mg/km across all thresholds would raise €15.5 million (based on 2024 data). It also examines emissions-based VRT for Category B vehicles or light commercial vans, suggesting an option for an increased rate of 15% for vehicles with emissions of 261g/km and over. According to data from SIMI to year end in May, the market share for light commercial vehicles is 93.2% diesel and 4.4% electric. However, there is growth in the EV market share compared to 2024 figures, although it also noted a year-on-year decline in light commercial vehicle registrations. Based on Revenue data from 2024, the paper suggests the net impact of the introduction of a surcharge rate of 15%, taking into account the 8% rate effective from July, for vehicles with emissions of >260g CO2 per km is estimated at being in the region of €1 million. It also outlines an option to reduce the Benefit in Kind (BIK) liability for zero emission vehicles to increase the uptake in the corporate fleet, and future options that may include the introduction of an emissions-based BIK rate for vans.
Hamilton Spectator
02-05-2025
- Politics
- Hamilton Spectator
Federal Election results in blue wave across Windsor-Essex
While the Liberal Party of Canada held on to at least a minority government after nation-wide ballots were cast in the 2025 Federal Election, the political landscape in the Windsor-Essex area committed to a blue wave. Conservative candidates resecured the Essex Riding, while also winning the previously Liberal-held Windsor-Tecumseh-Lakeshore Riding and the NDP-held Windsor West Riding. Essex Riding Conservative incumbent Chris Lewis was re-elected by around 16,000 votes after Monday night's Federal Election ballots were counted. That accounted for just over 45,500 votes, or 57.3% of the vote, unofficial results from Elections Canada detailed. That was up from the 41.1% of support he earned in the 2021 election. This re-elected Lewis for his third consecutive term, having first been elected in 2019. Lewis's dad, Kim, spoke of how his late wife, Helen, always told her youngest son 'to always tell the truth, it will set you free.' 'We are so proud that he has been elected to represent us for another term,' Kim said of Lewis, noting he is on the mission to leave the world a better place than he found it, and that his son is one who truly cares about people and the community. 'Mama, this one is for you,' Lewis said, addressing supporters. She passed away a year-and-a-half ago. He also thanked his wife, Allison, and his family for their support, and the volunteers who dedicated themselves to his campaign. 'I want to say 'thank-you' to the folks of Essex, who put their trust in me now for a third term,' Lewis said. 'It is the greatest honour of my life to serve people.' Lewis believes everyone is put on this world for a reason. 'To the people of Essex, it means the world to me you entrusted me one again to represent you in Ottawa. I will do it with dignity, I will do it with humility, and I will do it with a bounce in my step, a smile on my face,' Lewis said. 'I am going to continue to work for you,' Lewis said, noting he will bring the fresh ideas, thoughts, dreams, hopes, aspirations, and concerns of his constituents to Ottawa. 'I am incredibly proud of my leader,' Lewis said. Conservative Leader Pierre Poilievre did not get re-elected in his Carleton Riding. 'He has worked cares about our region. 'I know that Essex can celebrate tonight, because you've got somebody going back who knows how to get the job done, that knows the ins and the outs. If there was ever a time that was vitally important to send someone back to Ottawa that knows that, now is the time,' Lewis said. His number one priority in his third term will be tackling the cost of living, a top concern he has heard from constituents. While campaigning, he spoke to many young adults who expressed their frustration in not being able to own a home or get by. 'We are going to continue to pressure the government to ensure the Carbon Tax is taken off everything,' Lewis said. He will also be watching the auto sector, ensuring someone is properly dealing with US President Donald Trump on tariffs. 'I want to be part of the solution, not part of the problem.' With the election results, his Private Member's Bill C-241, a tax deduction for travel for tradespersons, is no longer in play. It passed its third reading in the House of Commons in March of 2023, and was sent to the Senate-level for further evaluation. Lewis hopes to be able to reintroduce it. 'It is so vital for our skilled trades,' he said. Lewis also spoke of hosting a clean campaign, of which he was proud, while congratulating the other candidates who ran in Essex. Essex Riding Liberal candidate Chris Sutton earned the support of just over 29,000 voters, NDP's Lori Wightman earned just over 4,000, and Jason Henry of the PPC earned just over 800, according to Election Canada's unofficial tally. There was no Green Party candidate in Essex this election. Elections Canada notes 79,546 of 109,799 registered electors in the Essex Riding – or 72.45 % (not including electors who registered on Election Day) voted. That was up slightly from the 70% voter turnout in the 2021 election. According to preliminary estimates from Elections Canada, the Essex Riding had one of the highest turnouts in the country at advanced polls, with 34,668 ballots cast. After results were tallied, Windsor West NDP incumbent Brian Masse came in third place in his riding. Conservative Harb Gill, garnered 21,270 votes, or 39.1%, earning the seat, according to Elections Canada's unofficial tally. Liberals came in second in this riding. Conservative Kathy Borrelli earned the Windsor-Tecumseh-Lakeshore seat, which previous Liberal rep, Irek Kusmierczyk, held. Unofficial results show Borelli earning 31,682 votes, beating Kusmierczyk by just a fairly narrow margin of just under 360 votes. Advanced voter turnout in other area ridings was fairly high, with 23,129 cast in the Windsor-Tecumseh-Lakeshore Riding and 16,464 in Windsor West. Nation-wide, preliminary Elections Canada's unofficial results note the Liberal Party of Canada earned 168 seats, while Conservatives earned 144, the Bloc Québécois earned 23, the NDP had seven elected, and the Green Party earned one.
