Taxation: Carbon Emissions

Treasury written question – answered on 2nd December 2022.

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Photo of Jessica Morden Jessica Morden Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Select Committee), Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Select Committee), Shadow Vice Chamberlain of HM Household (Whip), Shadow Deputy Leader of the House of Commons

To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 November 2022 to Question 80673 on Taxation: Carbon Emissions, whether the consultation on a potential carbon border adjustment mechanism will be carried out alongside a review of the carbon price support mechanism.

Photo of James Cartlidge James Cartlidge The Exchequer Secretary

The Government is exploring a range of policies that could potentially mitigate future risk of carbon leakage. The government committed to consult on this, as the FST set out on 16th May 2022 in a written ministerial statement, and will now do that in the spring.

As the Chancellor announced in the Autumn Statement, the government will also engage with industry and conduct a review of the Carbon Price Support beyond 2024-25.

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