Government backs down on green tax policies

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The coalition pledged to increase the proportion of environmental taxes in the total tax revenue but it’s unlikely to meet its target unless more action is taken soon, according to a new IFS report.

George Osborne’s first Budget as chancellor did not contain any new policy announcements on environmental taxes, meaning that the ‘green tax gap’ left by the Labour administration is unlikely to be closed any time soon, said the Institute of Fiscal Studies’ latest report.

“Given the scale of the fiscal retrenchment required over the coming years, and the pledge made in the coalition agreement, it is perhaps surprising that the government did not take the opportunity to spell out any firm increases in green taxes in the Budget,” i...

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Gina Dyer
Deputy Editor
Sift Media
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