The impact of the carbon tax increase on poorer households was completely offset by other measures in the budget, a prominent think tank has said. The Economic and Social Research Institute (ESRI) said increasing the tax, introduced as a deterrent to the use of fossil fuels, disproportionately hits poorer households. However, it said this was more than balanced out by increasing social welfare payments for adults with children, and for those living alone. This week the government announced the charge will rise by €7.50 per tonne of CO2 emitted, to €33.50. The carbon tax is set to increase by €7.50 per year, and by €6.50 in 2030, to set the price of the charge at €100 per tonne by the start of the next decade.
Times 17th Oct 2020 read more »