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UK drops Carbon Tax, sets up Emissions Trading Scheme (ETS)

Bloomberg & UK Treasury

The U.K. government confirmed it won’t go ahead with a tax on carbon emissions because of its decision to use an emissions trading system, according to a publication from the Treasury.

Carbon Emissions Tax (CET) – The government is publishing the summary of responses to its consultation on the CET6 which closed in September 2020. The government is not taking forward the CET in light of the announcement that it would implement a UK Emissions Trading System to replace its participation in the EU Emissions Trading System.”

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