The share of UK tax revenue directly raised from supporting businesses and individuals to reduce their environmental footprint was just 6% in 2020, new analysis has revealed, as the Treasury faces mounting pressure to align with net-zero. Produced by multinational professional services and law firm Pinsent Masons, the analysis reveals that £41bn was collected in so-called ‘green taxes’ during the last financial year. Taxes covered include those designed to penalise high-carbon behaviours, like Air Passenger Duty, and those designed to deter damage to nature, such as the Landfill Tax. £41bn was equivalent to just 6% of all tax revenue collected during the 12-month period.
Edie 10th May 2021 read more »