UK Eases Carbon Tax Burden For Manufacturers

Law360, New York (March 19, 2014, 5:42 PM EDT) -- The British government is cutting its carbon tax on manufacturers, freezing rates at $30 per ton of carbon dioxide from 2016 until 2020 as part of an $11.6 billion package to cut energy bills for the sector, Chancellor of the Exchequer George Osborne told Parliament on Wednesday.

Making his 2014 budget presentation to UK lawmakers, Osborne said the tax freeze, a new compensation program and other reforms will protect manufacturers and stimulate the economy without reducing any investment in renewable energy.

The budget includes a new...
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