Pivot away from fossil fuels could cost state billion in tax revenues, Ifac warns

Tax revenues to the state could reduce by €2.5 billion per year by the end of the decade in the pivot towards greener fuels and energy, according to the Irish Fiscal Advisory Council (Ifac).

A new study from the budgetary watchdog has outlined a series of potential costs to public finances associated with different aspects of climate change - which could be felt as early as 2026.

The council found that a transition away from ...