Advertisement
UK markets closed
  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     
  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     
  • AIM

    755.28
    +2.16 (+0.29%)
     
  • GBP/EUR

    1.1676
    +0.0019 (+0.17%)
     
  • GBP/USD

    1.2492
    -0.0019 (-0.15%)
     
  • Bitcoin GBP

    51,069.67
    -630.14 (-1.22%)
     
  • CMC Crypto 200

    1,331.33
    -65.20 (-4.67%)
     
  • S&P 500

    5,103.17
    +54.75 (+1.08%)
     
  • DOW

    38,252.97
    +167.17 (+0.44%)
     
  • CRUDE OIL

    83.64
    +0.07 (+0.08%)
     
  • GOLD FUTURES

    2,349.50
    +7.00 (+0.30%)
     
  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     
  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     
  • DAX

    18,161.01
    +243.73 (+1.36%)
     
  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     

New levy could prevent green British firms being undercut, says Eustice

Environment Secretary George Eustice has said a tax on imports from countries with poor environmental records would protect green businesses in the UK (Victoria Jones/PA) (PA Wire)
Environment Secretary George Eustice has said a tax on imports from countries with poor environmental records would protect green businesses in the UK (Victoria Jones/PA) (PA Wire)

A tax on imports from countries with poor environmental records would protect green businesses in the UK, George Eustice has said.

The Environment Secretary said the issue of a “carbon border tax” is being examined by officials in Whitehall

But he insisted the Government will not bring in an arbitrary “meat tax” to increase prices on food to reflect the environmental costs associated with them.

“We’re not going to have an arbitrary meat tax or meat levy,” he told BBC One’s Andrew Marr Show.

“That’s never been on the cards. I’ve never supported it.”

Any move to a border tax on imports would take several years and Mr Eustice said it would ideally happen on an international basis.

ADVERTISEMENT

If you don't want to export pollution, then you do at some point have to consider something like a carbon border tax

Environment Secretary George Eustice

Officials from the Treasury and Department for Business, Energy and Industrial Strategy are looking at models of how a carbon border tax might work.

“In an ideal world, it will be done multilaterally, with the whole world coming together to agree this,” said Mr Eustice.

“But it is going to be important. If you’re going to have carbon taxes at some point in the future, and emissions trading, you can only really make sense of that with a carbon border tax.”

The purpose of the tax would be to prevent pollution effectively being exported by bringing in products from countries without taking into account the emissions produced there.

“We would be saying, as countries, that we’re taking the action necessary to deal with this global challenge, but we’re not going to allow those producers in this country to be undercut by those who aren’t doing their share, and we’re not going to export pollution.

“So if you don’t want to export pollution, then you do at some point have to consider something like a carbon border tax.”

Read More

Five supermarket bosses commit to halve environmental impact by 2030

Travel stocks drive gains across FTSE after Pfizer pill progress

Marks & Spencer to announce transformation progress amid supply pressures

Protections needed for homeworkers monitored by bosses using webcams, says union

Co-operative Bank continues profit recovery after turnaround plan

‘One in eight adults already shopping for Christmas’