What is the new carbon tax in the UK?



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    The United Kingdom’s Carbon Reduction Commitment is aimed at reducing carbon emissions, by charging a tax of the 5,000 largest commercial energy consumers. Initially, legislators claimed the tax was refundable, upon improvement of facilities, but it was recently announced that revenue generated from the tax will be retained by the British Government; naturally, this has created a bombshell within the English business community. While many are critical of the harshness of the CRC, others have noted that “progressive businesses that act to improve energy efficiency will be able to minimise their exposure.”

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