Climate Change Levy

Treasury written question – answered at on 19 November 2001.

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Photo of David Lidington David Lidington Shadow Financial Secretary

To ask the Chancellor of the Exchequer what estimate he has made of the proportion of companies paying the climate change levy which will pay an excess charge over and above NI rebates.

Photo of Mr Paul Boateng Mr Paul Boateng Financial Secretary, HM Treasury, The Financial Secretary to the Treasury

The climate change levy is broadly revenue neutral with all revenue being recycled back to business through a reduction in national insurance contributions cuts and support for energy efficiency measures. The impact on any specific company or sector will depend on a number of factors, including: their future energy consumption and the use made of levy funded energy efficiency support; employment levels and the benefits received from the levy funded reductions in national insurance contributions; eligibility to receive a discount by signing up to an energy efficiency agreement; the use made of electricity generated from 'new' renewable sources of energy and combined heat and power, both of which are levy exempt.

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