Wednesday, 21 March 2012

UK gov't to consider replacing corporate #CRC scheme

The UK government will consider replacing a scheme to cut corporate energy use with an alternative environmental tax if it cannot cut the scheme's administrative costs, UK finance minister George Osborne said in his budget statement on Wednesday.

The so-called Carbon Reduction Commitment (CRC) was devised under the previous Labour government.

The mandatory energy efficiency scheme forces businesses like banks, hotels, hospitals and schools to help cut Britain's greenhouse gas emissions by 4 million tonnes and corporate energy bills by 1 billion pounds a year by 2020.

The CRC has been widely criticised for being too costly, confusing and unfair.

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