The Finance Act 2020 makes several provisions for changes to the UK's existing carbon tax and carbon pricing regimes. In particular, it brings into force changes to the rates of the Climate Change Levy previously announced by the Government.
The changes to the Climate Change Levy reflect the changes in the fuel mix used in electricity generation and the increase in rates seeks to recover tax revenues lost due to the closing of the Carbon Reduction Committment (CRC) Energy Efficient Scheme.
Schedule 12 of the Act also modified a number of provisions of UK law relating to Monitoring, Reporting and Verification for the purposes of Carbon taxes following the UK withdrawal from the European Union.
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Finance Act 2020
Summary
Documents
Document
Topics
Beta
About this law
Year
2020
Most recent update
22/07/2020
Geography
Response areas
Mitigation
Sectors
Energy, Finance
Topics
, ,
Topics mentioned most in this law Beta
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Group
Topics
Policy instrument
Impacted group
Just transition
Renewable energy
Fossil fuel
Greenhouse gas
Economic sector
Public finance actor
Note
The summary of this document was written by researchers at the Grantham Research Institute . If you want to use this summary, please check terms of use for citation and licensing of third party data.