Carbon Emissions: Taxation
(asked on 12th January 2021) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to provide a long term budget for the carbon price compensation scheme.
This question was answered on 19th January 2021
The UK’s new Emissions Trading Scheme (ETS) provides compensation for energy-intensive businesses at risk of competitiveness impacts. This compensation can cover up to 75% of the costs in their electricity bills due to the ETS and Carbon Price Support (CPS). The existing compensation schemes have been extended by a year until the end of 2021 and any funding decisions beyond this will be settled at a future Spending Review.