Luxembourg has recorded a decrease in fuel purchase at the pump over the past few years and the Ministry of Finance expects that about 50 million litres of diesel and 180 million litres of petrol less than 2014 to be sold this year. That corresponds to a decrease of 8 and 12 percent respectively.
04.08.2015
(ADW) Luxembourg has recorded a decrease in
fuel purchase at the pump over the past few years and the Ministry
of Finance expects that about 50 million litres of diesel and 180
million litres of petrol less than 2014 to be sold this year. That
corresponds to a decrease of 8 and 12 percent respectively.
Studying the graph below, it is evident
that the past three years have seen the most drastic drop in fuel
purchases.
MPs Diane Adehm and Gilles Roth (both
from the CSV) expressed concern that lower sales could lead to
significant reduction on fuel tax revenues for the state.
Finance Minister Pierre Gramegna in
response to the parliamentary question, pointed out that the budget
deficit of about 90 million euros has already been factored into the
2015 budget.
Tobacco sales also fall
Tobacco sales are also likely to
decline this year. Among the reasons the Ministry cited lower
consumption and increase in VAT. Although the significant drop is
probably also due to many smokers going on a spending spree in
December 2014, thus making the drop look greater than it really is.
In this area, the Ministry of Finance
expects revenue shortfalls of around about ten million euros.
For the state budgets for the years
2015 to 2019, latest developments and trends would be factored in.