However, they say history has taught them that 'review' unfortunately often means 'increase'.
"The tax take from new cars has dropped significantly over recent years so we understand the Government's desire to safeguard its tax revenues. While part of the fall is due to reducing prices and the shift by consumers to lower-emitting new cars, the biggest fall has been because of the market reduction from 186,000 in 2008 to just short of 90,000 last year.
"A fall to 75,000 this year will result in a further reduction of €100 million in VAT and VRT receipts. In the current market, it is very clear that any potential increase in taxation will simply result in fewer cars sold, which impacts directly on jobs."
SIMI hope that the current review will result in a balanced approach that focuses on the critical issue of maintaining jobs.
