10c hike in price of alcohol would net €110m

The Government has confirmed that a 10c hike in the price of alcohol in the next budget would net the State more than €110m if the public was to maintain current consumption levels.

Finance Minister Michael Noonan was asked by Independent Dublin TD Tommy Broughan how much additional revenue would be generated from an additional one, two, three, four, five and 10 cent increase in excise duty on tobacco and a range of alcoholic drinks.

Mr Noonan informed him that a 10c increase in the price of a pint of beer alone would generate €66m more for the State coffers, while the same increase in the price of a measure of spirits would net almost €32m.