Cost of pause to excise duty hikes 'significant' - Burke

Minister for Enterprise Peter Burke has stated that delaying the planned increases to fuel excise duty will have a significant cost, although he has not provided a specific figure of the potential expense. The Dáil will reconvene early next Friday after its summer recess to approve a resolution confirming the postponement of a phased move to reinstate cuts to excise duty at the beginning of September and October.

Finance Minister Simon Harris will present a memo to the Cabinet ahead of the special Dáil sitting on Friday, outlining the costs and potential impacts of continuing with the current rate of excise cuts for the next two months as well as different scenarios that may arise due to the absence of a deal on the Strait of Hormuz. The decision to maintain the fuel excise cuts, which were introduced following the Middle East conflict and April's fuel protests, will put further pressure on the Coalition as they finalize the October budget.

Burke declined to provide an exact costing, but stated that the cost of keeping the excise cuts significant.