Carbon tax ‘could cost firms €1bn’
A&L Goodbody consulting managing director Peter Brennan speaking at a seminar on the impending emissions trading scheme said: “implementing a carbon tax and a scheme designed to reduce carbon emissions may cost heavy energy users and the enterprise sector over €1bn from 2005.”
Mr Brennan said the Government estimates that €510m could be raised if the proposed carbon tax is introduced as planned. “In addition, some 40 energy producers and heavy energy users could face additional annual costs as high as €600m per annum, according to an Indecon report for IBEC. The enterprise sector is facing a serious challenge to meet the tough target set in 1997 to limit greenhouse gas emissions. The cost compliance burdens arising from the Government’s proposals should not be disproportionate to the perceived benefits,” said Mr Brennan.
