Does this year’s Budget contain any new green taxes or other environmental measures?
The most significant environmental measure is the scrapping of the Levy Control Framework (LCF) for renewable energy. The costs of renewable energy subsidies are recouped from consumers’ bills by the energy suppliers, but the LCF puts a cap on the amount that the suppliers can charge. The cap was originally set to grow in line with investment in low-carbon projects towards £7.9 billion in 2020. This scheme has not worked well, going significantly over budget. Some of the reasons for the overspend are:
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