| Sometimes, the Chancellor must feel like he just can't win. When he introduced the UK's top-up carbon tax - the carbon price floor - environmentalists called it costly and ineffective. Now that he's announced it's going to be frozen, the same groups are accusing him of abandoning the UK's climate change agenda.
The carbon price floor is a top-up tax: it exists to bolster the existing EU price of carbon. Energy companies already pay to pollute under the EU emissions trading scheme (ETS), buying permits to emit greenhouse gases when they generate electricity. But the price of the permits crashed to a record low last year, meaning there's much less of a financial incentive for companies to cut their emissions...............................................Full Article: Source |