Sunday, October 24, 2010

PwC: government may have created green tax


PwC partners claim changes to environmental legislation will create a green tax.

George Osborne's spending review has revealed that revenue generated from green legislation will now go to the public purse and not recycled back into the scheme.

PwC climate change partners agree changes to environmental legislation could create a green tax and increase compliance costs for businesses.

The government announced estimated revenues of £1bn generated from the legislation, Carbon Reduction Commitment (CRC), will be put towards supporting public finances, including spending on environment, rather than recycled into the scheme as previously announced.

See full Article.