UK: Carbon Tax Could Boost Economy and Combat Fuel Poverty -- Analysis

"Money raised from carbon taxes on energy bills should be used to lift millions of households out of fuel poverty and boost the economy, it has been suggested."

"The Treasury will receive billions of pounds a year from 2013 as energy companies are made to pay for carbon emissions, and the cost on energy bills will be viewed as a stealth tax unless it is spent helping consumers, ministers were told.

Analysis for Consumer Focus estimates £63bn will be raised in revenues between 2013 and 2027 by making energy firms pay for the carbon they emit, rising from £2.7bn next year to £6.8bn a year in 15 years' time.

The report estimates that households will be paying £21 a year next year, with the cost of the green policies rising to £39 by 2020."

The UK Press Association had the story November 9, 2012.
 

Friday, November 9, 2012