Carbon tax could net €500m for exchequer

THE introduction of carbon taxes could boost exchequer funds by €500 million a year alongside the setting up of a climate change commission, according to a new economic report.

The increased revenue from the environmental levies could be phased in by the budget in December if needed. The increased revenue could then allow for possible decreases in income tax, the research suggests.

According to the Economic and Social Research Institute (ESRI) report launched yesterday, attempts to roll out serious environmental policy changes have been hampered by opposition from industries as well as the failure of politicians to act.