June 15, 2020 / 6:33 PM / a month ago

FACTBOX-Irish coalition sets out programme for government

DUBLIN, June 15 (Reuters) - A coalition of Ireland’s two dominant centre-right parties and the Green Party agreed a draft programme for government on Monday, pending approval by their respective members in coming weeks.

Here are the main commitments:

ENVIRONMENT

- An average 7% per annum reduction in overall greenhouse gas emissions from 2021 to 2030

- 2:1 ratio of expenditure between new public transport infrastructure and new roads

- Ban registration of new fossil-fuelled cars and light vehicles from 2030

JULY COVID-19 STIMULUS

- The package will be centred around a new recovery fund available from 2020 to 2022 targeting increased domestic demand and employment. Additional grants for small businesses will be considered.

- Set out future of Temporary Wage Subsidy and Pandemic Unemployment Payment and consider additional measures to support the hospitality, retail, entertainment, arts and leisure sectors

MEDIUM-TERM ECONOMIC PLAN

- An economic plan, to be unveiled alongside the budget in October, that will include a major reskilling programme and plans to upgrade the energy efficiency of at least 500,000 homes by 2030

- Set out a medium-term roadmap to reduce the deficit and return to a broadly balanced budget

ENERGY

- End issuing of new licenses for exploration and extraction of gas

- Withdraw support for the importation of fracked gas and from a proposed liquid natural gas import terminal

TAX

- Carbon tax to rise to 100 euros ($113) per tonne by 2030, from the current target of 80. Carbon taxes of 9.5 billion euros over 10 years to be used in a Climate Action Fund

- Tax rises to be focused on those that target behaviours such as the carbon tax, sugar tax or tax on plastics. No increases in income tax rates.

OTHER MEASURES

- Insurance reform to reduce premiums

- Increase the social housing stock by more than 50,000

- Review and reform defamation laws

$1 = 0.8832 euros Reporting by Conor Humphries; Editing by Andrew Cawthorne

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