BUDGET 2017 – MOTORING NEWS
Minister of Finance Michael Noonan this afternoon has announced some measures related to ‘Climate Change’ that will have an effect on the Motor Industry in Ireland.
He stated that, “Work has been ongoing across Government departments to create Ireland’s first National Mitigation Plan to transition Ireland to a low carbon economy by 2050.”
Under his Climate Change plan, he outlined some specific measures which he claims would assist Ireland in this transition.
VRT relief on Electric Vehicles
Under the transition plan it was outlined that relief from vehicle registration tax on electric vehicles will be extended for a further 5 years, giving, as the Minister says, “the motor industry and motorists the confidence to invest in this cleaner technology.
VRT relief for hybrid vehicles
Budget 2017 also promised VRT relief for hybrid vehicles for 2 years. Along with this, the government is commencing a measure, to help reduce dependence of larger vehicles on diesel fuel.
Natural Gas Vehicle Fuel
Added to this, there will be provisions made to provide a natural gas alternative to be used as a vehicle fuel which will be taxed at the EU minimum rate of excise for a period of 8 years.