Industry NewsThe Government has turned fears of stealth carbon taxes into reality for many businesses, according to press reports quoting the head of the CBI. Speaking after announcements of further changes in the Carbon Reduction Commitment (CRC), the director general of the CBI, Richard Lambert, attacked the Energy Minister for reducing the incentives for industrial and commercial consumers to reduce their carbon emissions.
Energy Minister, Chris Huhne, was at the CBI unveiling a consultation on fresh changes to the CRC. However, many businesses are still reeling from the changes instigated in the Spending Review. This removed the recycling of carbon permit payments to compliant companies and reduced the potential payback for taking part in the mandatory scheme.
Lambert commented, "Those who feared that green taxes would simply turn into another kind of stealth tax have had their prejudices amply confirmed by the way the Carbon Reduction Commitment has been converted, without consultation, into just another source of revenue for the Treasury."