Carbon Border Taxes
Debate between Lord Bellingham and Lord Livermore(2 days, 17 hours ago)
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Lord Livermore (Lab)
Fertiliser production in the UK is subject to carbon pricing under the UK Emissions Trading Scheme. A UK CBAM will ensure that fertiliser produced overseas faces a comparable carbon price to equivalent goods produced in the UK. Most UK agricultural prices are a function of a range of international factors and the Government do not expect a CBAM on fertiliser to put UK farmers at a competitive disadvantage.
Lord Bellingham (Con)
My Lords, I declare an interest in this subject. Further to the question asked by the noble Earl, Lord Devon, can the Minister say whether the Government have made any assessment at all of the impact that this could have on our balance of payments?
Lord Livermore (Lab)
I do not think that that is relevant to this policy. Most of our trade in food is with the EU, and the EU has a similar scheme to ours.