Pollution Control: Taxation
(asked on 26th June 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing polluter pays’ taxes and levies to fund climate projects.
This question was answered on 4th July 2023
The UK Government has a range of climate taxes and levies that apply the polluter pays principle. Among others, these include the two main carbon pricing policies - the Carbon Price Support and the UK Emissions Trading Scheme. Together, these policies have contributed to a significant shift in the economics of, and investment incentives for, renewable energy sources compared to coal for domestic power generation.