Falling VRT take - Cut tax to save revenue

THE collapse of the car market is another indicator, as if it were needed, that we are in straitened times.

The sector, through just one of many taxes — vehicle registration tax (VRT) — contributed almost €1 million a day less last year than it did in 2007. The VRT take was down from €1.4bn in 2007 to €1.1bn.

Reflecting the decline in sterling 55,819 second-hand cars were imported, 88% from Britain.