23 Feb '12, 2am

And reports suggest South Africa to become latest country to get a carbon tax

South Africa could introduce a carbon tax next year if a proposal contained in the country's latest budget comes to fruition. The Treasury yesterday put forward plans for a carbon tax of 120 rand (£10) per ton for emissions over and above a 60 per cent threshold that will be set for a number of carbon intensive sectors, including electricity, petroleum, iron, steel and aluminium. FURTHER READING CBI urges Osborne to reform UK carbon taxes China cranks up green tax in “resource conservation” effort It added that it plans to publish a draft policy later this year. Under the initial plans, the levy would increase by 10 per cent a year until 2020, while all sectors bar electricity will be able to claim additional relief of at least 10 per cent. This means nearly two-thirds of emissions will be tax-exempt until 2020 - a scenario that will be seen as a victory for heavy industry...

Full article: http://www.businessgreen.com/bg/news/2154400/south-africa...

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