21 Mar '12, 3pm

Carbon Reduction Commitment to be reformed or axed

Chancellor George Osborne has pledged to replace the unpopular Carbon Reduction Commitment (CRC) with a simpler green tax system if the current scheme cannot be simplified within the next six months. Launching the Budget in the House of Commons today, Osborne said he wanted to ensure the 20,000 businesses required to report to the CRC were not unfairly hit by the administrative costs of compliance. FURTHER READING Cable calls on Treasury to scrap "blunt" Carbon Reduction Commitment US solar manufacturers offer cautious welcome to Chinese import levy "The Carbon Reduction Commitment was established by the previous government," he said. "It is cumbersome, bureaucratic and imposes unnecessary cost on business. So we will seek major savings in the administrative cost of the Commitment for business. "If those cannot be found, I will bring forward proposals this autumn to replac...

Full article: http://www.businessgreen.com/bg/news/2162552/green-budget...

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