UK chancellor could introduce environment tax

UK chancellor of the exchequer George Osborne recently announced proposals for an environmental tax which would replace the current carbon-reduction program, calling currency environmental legislation a 'burden' on business.

The government is currently working on simplifying its carbon commitment legislation, looking to cut red tape that is impeding business from expanding in the country. The new tax has been proposed as an alternative to these cuts, making green taxes less problematic for business.

The chancellor recently released his Budget that included a few environmental announcements, which included a surcharge on carbon emissions by utilities starting 2014. He also added support for airport expansion near London, and pledged to encourage investment in offshore oil and gas.

The changes have been criticised by environmental groups in the UK, calling it the final 'nail in the coffin' of the governments environmental promises. Green Party leader and lawmaker Caroline Lucas said: “The determination to plow ahead with growth-at-any-cost planning reforms and aviation expansion, throw money at North Sea oil and gas, and ignore the potential of green energy shows that this administration’s environmental policy is blue, not green."

Posted by Joseph Hutton