An Independent TD has claimed that Ireland going “carbon neutral” will cost the State €375 billion in total by 2050.
Speaking in the Dáil yesterday during a discussion on carbon tax, Offaly TD Carol Nolan claimed that Ireland could save “millions, if not billions” by “radically” revising some of the measures in the Climate Action Bill.
Carol Nolan goes through the cost of Ireland pursuing a carbon neutral policy, including the estimate of €375 billion up to 2050. pic.twitter.com/icYZlTIitZ
— JRD (@JRD0000) April 27, 2022
“I have repeatedly highlighted the fact that according to an analysis conducted by the International Monetary Fund, IMF, the cost of implementing the Government’s Bill will be €20 billion each year until 2030,” said Nolan.
“…That comes from the IMF, not the Rural Independent Group.”
The International Monetary Fund estimated this cost in a recent report https://t.co/yEOa7fjm2o
— Agriland (@AgrilandIreland) June 21, 2021
At the time these figures were released, Nolan said the sum was “obscene.”
According to Statista, there are 2.33 million Irish people employed as of 2022.
This means €20 billion annually in total would represent €8,583 a year per working taxpayer.
Nolan continued: “This country will be destroyed economically. It will be ruined and there will be no recovery. I call on the Government to recognise that as a fact.
“…All of this is for a Bill that explicitly deprioritises employment. It is incomprehensible. It must be rejected before irreparable damage is done and the costs skyrocket.”
Nolan went on to cite what she called “excellent” analysis by the Irish Climate Science Forum, saying it brought “rationality to the current climate debate.”
“The forum seeks to ground its projections in less hysteria and in more solid, verifiable evidence of how we should be responding to mitigate whatever climate threats may emerge,” she said.
She referenced Professor Michael kelly of Cambridge University, who analysed what going “carbon neutral” would cost Ireland.
“According to Professor Kelly, the cost to Ireland out to 2050 of pursuing its zero carbon agenda would comfortably exceed €375 billion, with a workforce required comparable in size with the health sector,” said Nolan.
“We have people languishing on hospital trolleys and waiting for operations. That is not right. That is just not right. I ask the Minister of State to go back to the Cabinet with this information.”
Notably €375 billion at 2.33 million workers would cost each taxpayer almost €161,000 by 2050.
If this research is to be believed, going carbon neutral could cost €7,318 per working taxpayer, per year, for the next 28 years.