Personalised registration plates could create revenue windfall – McGrath

Independent TD Mattie McGrath has called on the Minister for Finance Michael Noonan to revisit the prohibition on personalised vehicle registration plates.

Deputy McGrath went on to note that amending the existing Vehicle Registration and Taxation Regulations 1992 could potentially lead to the generation of significant revenue for local authorities if it was modelled on the UK Driver & Vehicle Licensing Agency (DVLA) scheme which permits the design and display of personalised licence plates:

“In light of the fact that many county councils have recently had to debate whether or not they would increase the Local Property Tax I think we should actively explore any possibilities which exist for generating extra revenue.

The crucial aspect here is that the revenue generated would be through voluntary payments.

That revenue could then be ring fenced and dispersed to county councils in order to decrease the existing pressure on them to impose hikes in the local property tax.

While the UK market for personalised plates is of course significantly larger, we should also bear in mind that according to the DVLA this is a trade which has generated a staggering £1.68 billion in the past 20 years for the UK Treasury.

Even if a portion of that was to be generated here it would have the potential to create a significant impact

In March 2011 the DVLA brought in £16 million worth of private plates on a single day.

In light of all of this I think it is only right that the Minister give serious consideration to reversing the prohibition on personalised vehicle registration plates within this State,” concluded Deputy McGrath.

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