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Booze, petrol, cigs: This is how much an extra 10 cent on our 'luxuries' would bring in

An increase of a couple of cent could mean big bucks to the State coffers.

EVERY YEAR IRISH people tune in to the Budget to see if there will be any price hikes in what the government often refer to as ‘luxury items’.

Booze, fuel or cigarettes are easy targets for tax increases, but increasing the cost doesn’t go down well with the public.

This year, much to the relief of many, there was only a rise in one of them, cigarettes.

However, the excise on these items can bring in big bucks to the Exchequer.

With the government needing cash for big-ticket items, you can see why it would be tempting to add a couple of cent on to each.

The National Children’s Hospital is envisaged to cost €650 million, with an additional €50 million needed for equipment. Scrapping Irish Water (if the government goes down that road) would cost about €900 million.

There is also the cost of the Garda pay deal, approximately €50 million, which the government said has to come out of the existing budget for the Department of Justice and other departments (not to mention all the possible public pay demands that could be coming down the line in 2017).

With the government stating there is only a certain about amount of cash in the pot, ahead of every Budget the government works out what excise increases would bring in.

This is called the Ready Reckoner.

Here’s what 10 cent increase on alcohol, petrol and cigarettes add to the State coffers.

20161202_Revenue

Minister for Finance Michael Noonan said the Ready Reckoner (which is compiled by the Revenue Commissioners) gives a wide range of detailed information, including excise increases on fuel, alcohol and tobacco, to government.

So, would you be willing to pay an extra 10 cent on items such as wine, beer and diesel?


Poll Results:

No way (3812)
Yes (1410)
I don't know (268)

Read: Burton outraged at letter to TDs claiming children adopted by same-sex couples are more likely to be abused>

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    Mute Chewey Bacca
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    Nov 27th 2018, 1:35 PM

    Congrats Victoria Mary & Shane – Great songwriter

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    Mute John Ryan
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    Nov 27th 2018, 1:43 PM

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    Mute Terrence Edwards
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    Nov 27th 2018, 1:32 PM

    He’s the same age as me but could pass for my father

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    Mute Deborah Blacoe
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    Nov 27th 2018, 1:39 PM

    @Terrence Edwards: does your father have hair?

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    Mute Loretta stiletto
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    Nov 27th 2018, 1:42 PM

    @Terrence Edwards: really…. in your opinion

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    Mute Rob Ryan
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    Nov 27th 2018, 1:59 PM

    @Terrence Edwards: are there no mirrors in your house chief?

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    Mute Shea Carroll
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    Nov 27th 2018, 2:09 PM

    @Terrence Edwards: Very important information. Please keep us posted if you have any more insights

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    Mute Bertrand Bonquer
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    Nov 27th 2018, 3:00 PM

    @Terrence Edwards:
    Eh no. No he wouldn’t.

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    Mute Aine Power
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    Nov 27th 2018, 1:58 PM

    Best songwriter I have ever listened to.

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    Mute Brian Dunne
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    Nov 27th 2018, 2:52 PM

    @Aine Power: great man to pen a lyric. Lullaby of london is probably my personal favourite

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    Mute TamuMassif2019
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    Nov 28th 2018, 2:14 AM

    @Aine Power: He’s famous for 1 song really but he can only take credit for 50% of that Christmas jingle?

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    Mute Mari
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    Nov 27th 2018, 1:52 PM

    Big congrats guys

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    Nov 27th 2018, 4:07 PM

    I’d say that was some session

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    Nov 27th 2018, 2:45 PM

    What a lucky gal she is.

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    Nov 27th 2018, 7:50 PM

    @damo.f: you have got to be joking!!!

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    Nov 27th 2018, 8:32 PM

    @Ann Moynihan: why must he be joking?

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    Nov 27th 2018, 6:56 PM

    Complete legend hope has a few good years of happiness A pair of brown eyes one of the greatest songs ever

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    Nov 27th 2018, 5:06 PM

    Huge congratulations.

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    Nov 27th 2018, 7:20 PM

    She now has a husband and a child to look after, all in one ceremony

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    Nov 27th 2018, 6:56 PM

    Complete legend hope has a few good years of happiness

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    Nov 27th 2018, 2:41 PM

    Shes one lucky lady.

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    Nov 27th 2018, 2:31 PM

    Imagine waking up to that beautiful face beaide you in bed every morning. Shes a lucky lady.

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