New CBI paper calls for the government to harness the tax system to accelerate net-zero progress by business.
Business plays a crucial role in meeting a net-zero emissions target by 2050. But it will only be able to deliver if it is supported by the right policy frameworks.
Regulatory frameworks will be key given the pressures on public finances, but fiscal measures, including environmental taxes and tax incentives, can play an important role in driving change. The CBI is calling for the government to review how the UK tax system could be harnessed to accelerate the reduction of emissions.
We set out a number of principles to guide the government in ‘greening’ the tax system. Green taxes must be targeted to a pollutant or a polluting behaviour (with clear definitions being provided of both and at those points in the value chain where taxes can feasibly drive decisions which will result in lower carbon emissions); government needs to provide long-term certainty of environmental tax policies to underpin the investment decisions by c
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