The CIOT has backed the idea of a single climate tax on businesses, as long as it comes after an environmental tax framework similar to the business tax road map.
The CIOT has backed the idea of a single climate tax on businesses, as long as it comes after an environmental tax framework similar to the business tax road map. The CIOT said such a road map would help to counter confusion and suspicion among consumers and businesses about the objectives and direction of the government’s environmental tax policy. It says it will also be important that UK policy takes into account the European Commission’s Energy Union Strategy as it develops – this has a key 2016 work priority of focusing on meeting the 2030 energy and climate package targets. The road map must also take account of the forthcoming Paris UN climate change conference.
John Cullinane, CIOT tax policy director, commented: ‘We seem to be moving from green taxes that try to reduce energy use to them becoming just another revenue-raising mechanism. Consistent and long-term policy goals would boost support among businesses for a single climate tax, as proposed in the Treasury’s recent business energy efficiency tax landscape consultation. The government cannot expect to successfully create investor and consumer confidence in the green market without greater long-term certainty in how that branch of the economy is taxed.’
The CIOT has backed the idea of a single climate tax on businesses, as long as it comes after an environmental tax framework similar to the business tax road map.
The CIOT has backed the idea of a single climate tax on businesses, as long as it comes after an environmental tax framework similar to the business tax road map. The CIOT said such a road map would help to counter confusion and suspicion among consumers and businesses about the objectives and direction of the government’s environmental tax policy. It says it will also be important that UK policy takes into account the European Commission’s Energy Union Strategy as it develops – this has a key 2016 work priority of focusing on meeting the 2030 energy and climate package targets. The road map must also take account of the forthcoming Paris UN climate change conference.
John Cullinane, CIOT tax policy director, commented: ‘We seem to be moving from green taxes that try to reduce energy use to them becoming just another revenue-raising mechanism. Consistent and long-term policy goals would boost support among businesses for a single climate tax, as proposed in the Treasury’s recent business energy efficiency tax landscape consultation. The government cannot expect to successfully create investor and consumer confidence in the green market without greater long-term certainty in how that branch of the economy is taxed.’
