UK-wide carbon tax to replace EU ETS in no-deal Brexit

HM Treasury will establish its own carbon tax to replace the EU’s carbon cap-and-trade scheme should the UK leave the EU without a deal

Drax power station
1,000 UK businesses and 140 UK aircraft operators take part in the EU ETS, including power stations like Drax

HM Treasury will establish its own carbon tax to replace the EU’s carbon cap-and-trade scheme should the UK leave the EU without a deal, according to government papers published Friday.

The position runs contrary to statements from energy  minister Claire Perry, who has said it is in “no one’s interest” for the UK to leave the cap-and-trade mechanism.

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