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Government to make a killing on rising pump prices just as they did with stamp duty.

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    #32
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    I remember that 5 or 6 years ago during a diesel crisis the govt took 6 c a litre off at the stroke of a pen.


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    #33
    JHMEG
    Closed Accounts Posts: 7,686 ✭✭✭JHMEG


    kbannon wrote: »
    But the excise duty is a fixed amount and quite small overall. VAT is the killer in terms of taxes on fuel.
    Excise is a lot more than VAT, at 44.27c per litre of petrol and 36.81c for diesel.


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    #34
    JHMEG
    Closed Accounts Posts: 7,686 ✭✭✭JHMEG


    niceirishfella wrote:
    and sure the percentage take increases with the rise of the price
    unkel wrote: »
    Wrong again
    Ah look, we're getting caught up playing games with semantics here.
    The percentage, as a total, decreases with rising prices.
    The total tax take increases with rising prices.

    The OP is correct. Rising fuel prices = more tax for the govt.


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    #35
    ART6
    Registered Users Posts: 2,632 ✭✭✭ART6


    In a UK newspaper I bought today there is a quite a long article about how the UK haulage industry has had enough and is about to take action like they did the last time there was a fuel price hike there. The various haulage groups are saying that this time the protests will be much more targeted and much more aggressive. In addition, they will not just be restricted to the price of fuel, but also will demand action on heavy trucks from Europe filling up oversized tanks with subsidised fuel, allowing them to drive for a week in the UK without buying any there, making it difficult for local industry to compete with them. I suspect that the Irish hauliers might just be watching what happens in the UK, and might learn a few tips. Perhaps our government would be well advised to start listening more to the people and less to the Green Gormley and his bike while they still have time.:mad:


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    #36
    Diarmuid
    Registered Users Posts: 3,981 ✭✭✭Diarmuid


    JHMEG wrote: »
    The OP is correct. Rising fuel prices = more tax for the govt.

    Yes but while half here are all getting worked into a frenzy about the gov't "making a killing", no one has actually worked out how much they are making. So I did.

    As has been already mentioned, the increase in prices only affects VAT not excise so the gov't are only seeing an increase on the VAT
    http://spreadsheets.google.com/pub?key=pzcsCLFvURLWiZBAUmOvMaw
    You can decide for yourself if these low single digit increases are "making a killing".

    And if anyone believes that oil based fuel in the long term ,is going anywhere but up, must be living in cloud cuckoo land.

    Disclaimer: there is a possibility that I have made mistakes in my figures so any comments would be welcome


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    #37
    JHMEG
    Closed Accounts Posts: 7,686 ✭✭✭JHMEG


    Diarmuid wrote: »
    Yes but while half here are all getting worked into a frenzy about the gov't "making a killing", no one has actually worked out how much they are making. So I did.[/SIZE]
    Eh, no you didn't read the thread. Last post page 1.


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    #38
    Diarmuid
    Registered Users Posts: 3,981 ✭✭✭Diarmuid


    JHMEG wrote: »
    Eh, no you didn't read the thread. Last post page 1.
    Ok, I missed your figures on reading the thread. So do you believe an increase of 5% on diesel and 2% on petrol in the space of a year is "making a killing"? And I don't agree that the figures are just semantics.


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    #39
    JHMEG
    Closed Accounts Posts: 7,686 ✭✭✭JHMEG


    Diarmuid wrote: »
    Ok, I missed your figures on reading the thread. So do you believe an increase of 5% on diesel and 2% on petrol in the space of a year is "making a killing"? And I don't agree that the figures are just semantics.
    I'm not the OP, but at currently over 50% take out of 1.30 or so, some might argue they're doing excessively well.


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    #40
    Diarmuid
    Registered Users Posts: 3,981 ✭✭✭Diarmuid


    JHMEG wrote: »
    I'm not the OP, but at currently over 50% take out of 1.30 or so, some might argue they're doing excessively well.
    Ok. I don't disagree that they are doing well out of fuel taxes, and I appreciate that you did not make the original point.

    However the current excise rates have been in place for years and it is totally inaccurate to claim (the OP) that the gov't is making a killing on the rising pump prices. They are making (practically) the same money on fuel that they have been for years.


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    #41
    Wertz
    Closed Accounts Posts: 11,909 ✭✭✭✭Wertz


    Diarmuid wrote: »
    They are making (practically) the same money on fuel that they have been for years.

    You discount the fact that there are a lot more vehicles on the roads than there was some years back and that figure rises every year. Add to that the element of larger more fuel hungry engines.
    This is all on top of continuing rises in motor tax.


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