The switch to electric motoring will cost the exchequer at least €2.5 billion in lost tax revenue a year by 2030, according to the Irish Fiscal Advisory Council (IFAC). Members of the budgetary watchdog are due before the Oireachtas Committee on Budgetary Oversight later today to discuss the impact of the climate change transition on Government revenue.
"The main impact on Government revenue is due to the electrification of Ireland's stock of vehicles," they say in an opening address to the committee. The reductions in Government revenue build steadily out to 2030, reaching almost 1 per cent of national income, "or €2.5 billion in today's money", IFAC says
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