A proposed UK tax on heavy polluters would come in at nearly half the EU carbon market price, reducing the incentive to cut emissions

British heavy industrial polluters could see their carbon costs nearly cut in half if the country crashes out of the EU with no deal this autumn.

Updated guidelines released on Monday show the UK government plans to introduce a domestic tax of £16 ($19) per tonne of CO2 emitted from power stations and industrial sites from 4 November. The aviation sector would not be subject to the tax.

In the UK, the tax would replace the EU emissions trading system, where permit prices have soared close to €30/t ($33) and are forecast to continue climbing. Together with a falling pound, it raises the prospect of a significantly lower carbon price in Britain than on the continent.

The tax would come into force if the UK fails to negotiate a withdrawal deal with the EU by 31 October, when it is due to leave the bloc.

Read more at: Climate Home News

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