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ARTICLE · 21 MARCH 2012

Budget 2012 – Osborne Signals Death Knell for CRC?

Mayer Brown
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George Osborne has just made a key announcement, which will affect a large number of our clients: he has said that unless significant savings can be made in the administration costs for businesses of complying with the CRC, he will bring forward proposals in the Autumn to replace the CRC with a green tax

United KingdomEnvironment
Michael Hutchinson
Michael Hutchinson
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Originally published March 21, 2012

Keywords: CRC, green tax, emissions trading scheme

Breaking news from the UK Parliament: the Chancellor, George Osborne, is currently delivering his Budget speech in the House of Commons.

He has just made a key announcement, which will affect a large number of our clients: he has said that unless significant savings can be made in the administration costs for businesses of complying with the CRC, he will bring forward proposals in the Autumn to replace the CRC with a green tax.

Launched in 2010, the CRC is a mandatory emissions trading scheme for large non-energy intensive organisations and is one of the UK's flagship green schemes.

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