Brussels to Tax Heating and Fuel

This new burden would push gasoline prices to 870 forints per liter and raise household utility costs to nearly four times their current level, Szazadveg writes. Brussels would hit European households with a carbon tax on heating and cooling energy consumption as well as fuel use. The measure would have catastrophic consequences: Hungarians’ electricity and gas bills would rise to 3.9 times their current level, meaning an additional annual cost of 575,000 forints for an average household. The price of gasoline and diesel would jump above 870 forints per liter, further intensifying inflation beyond increasing transportation costs.

European Commission President Ursula von der Leyen (Photo: AFP)

According to climate models, by 2040—if the targeted 90 percent emissions reduction is achieved in the sectors concerned—this measure would limit the rise in global average temperature by at most 0.019 degrees Celsius. It is therefore clear that Brussels’ carbon tax would inflict severe social damage in exchange for a negligible environmental benefit.

Cover photo: Ursula von der Leyen (Photo: AFP)