Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with Cabinet colleagues and international counterparts on the potential merits of introducing an additional tax on high-polluting corporations to fund the tackling of pollution caused by such companies.

The UK Emissions Trading Scheme (UK ETS) is our key lever to ensure those companies who are responsible for carbon emissions pay for them.

Introduced in January 2021, the UK ETS covers 25% of UK emissions across the power sector, energy-intensive industry, domestic and UK–EEA flights, and domestic maritime.

Revenues from the scheme accrue to the consolidated fund and support spending on government priorities, which includes net zero objectives.