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Eversheds comment: Budget 2016 - CRC abolishment welcomed by business

  • United Kingdom


    On news from today's UK Budget that revealed the Carbon Reduction Commitment (CRC) scheme is to be abolished, Jane Southworth, legal director in the environmental team at Eversheds, comments:

    "When the CRC Scheme was first introduced its complexity was justified by the fact that businesses would receive money back in the form of a recycling payment. However, from the point when the government changed its plans and retained the revenue raised through the sale of allowances, the scheme has been a tax in all but name. No doubt businesses will welcome this move, which should reduce their administrative burdens – even if it proves to be cost neutral."


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