Faroe Islands government proposes temporary cut to fuel taxes

The Faroese government will present a proposal today to temporarily reduce excise duties on petrol and diesel, national broadcaster Kringvarp Føroya reports. The measure, set to expire on 31 July, would cost the state treasury around 20 million Danish kroner.

Finance Minister Aksel V. Johannesen confirmed the proposal will be introduced in the Løgting (Faroese Parliament) during Friday’s session, which begins at 13:00 local time. Only the first reading is scheduled for today, with further debate expected in five parliamentary sessions planned for May.

The government has stated that drivers using petrol and diesel will receive financial support through the tax reduction.