Irish car taxes to be more CO2 - weighted

Irish finance minister Brian Cowen has proposed linking annual car taxes more closely to CO2 emissions from 2008 as part of his 2007 budget announcement on Wednesday. Under the proposals, now out for consultation, mandatory car emission labelling would also be introduced. Budget allocations include E270m to a carbon fund to buy credits through the Kyoto protocol's flexible mechanisms. Ireland plans to buy 18m allowances between now and 2012 to help meet its target. See finance ministry http://www.finance.gov.ie/ViewDoc.asp?fn=/home.asp, budget http://www.budget.gov.ie/2007/default.html and environment ministry's press release http://www.environ.ie/doei/doeihome.nsf/0/8B8B10EBE893E6428025723D004D4EED.