Posted by admin | Posted in News & developments | Posted on 24-10-2010
LONDON, United Kingdom — British companies are now waking up to the government’s decision to keep revenue raised by the Carbon Reduction Commitment (CRC) scheme, rather than recycle it to participating businesses.
Through the scheme, Parliament expects to raise around £3.5 billion (around US$5.5 billion). However, this means that CRC will effectively act as a carbon tax rather than a true carbon market.
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