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| Version 1 | Version 2 |
|---|---|
| Tory plan for business carbon tax | Tory plan for business carbon tax |
| (about 2 hours later) | |
| The Conservatives are planning a carbon tax on British businesses to persuade them to reduce their emissions, shadow chancellor George Osborne has said. | The Conservatives are planning a carbon tax on British businesses to persuade them to reduce their emissions, shadow chancellor George Osborne has said. |
| The party says the proposal would raise more revenue than the existing climate change levy. | |
| Any extra money would be returned to businesses through other tax cuts. | Any extra money would be returned to businesses through other tax cuts. |
| Money currently raised under the levy is returned through subsidising energy-saving investments and national insurance reductions. | Money currently raised under the levy is returned through subsidising energy-saving investments and national insurance reductions. |
| The climate change levy was introduced in April 2001 to cut emissions from business. | The climate change levy was introduced in April 2001 to cut emissions from business. |
| Companies can often recoup the money through the energy they save and can also avoid the levy by using renewable energy - but not nuclear energy. | Companies can often recoup the money through the energy they save and can also avoid the levy by using renewable energy - but not nuclear energy. |
| The BBC's economics editor, Evan Davis, says the levy raises less than £1bn per year, and that this new proposal is the first substantive proposal by the Conservatives for a new environmental tax. | |
| He also says there are no plans by the Tories to tax households directly on their carbon emissions. | He also says there are no plans by the Tories to tax households directly on their carbon emissions. |
| The Conservatives have said they want green taxes to form a higher proportion of all taxes, although they do not want the overall tax take to rise. | The Conservatives have said they want green taxes to form a higher proportion of all taxes, although they do not want the overall tax take to rise. |