TaxAdministrationFSA chief voices support for higher fuel tax

FSA chief voices support for higher fuel tax

Turner shows his green colour as he comes out in support of higher fuel taxes, wearing his FSA chief's hat

As the pressure is mounting on the government to ease fuel taxes, the newly
installed Financial Services Authority
(FSA) chairman says higher energy prices are a ‘legitimate’ way to cut
greenhouse gas emissions.

Adair Turner, government’s
climate
change committee chairman
and Gordon Brown’s chief adviser on climate
change, told the Financial Times last Fridat, that, as a matter of
principle, ‘everyone accepts that putting a price on carbon is a crucial
instrument’ to cut emissions. ‘That will put up the price of energy and there is
no way round that. We should not deny that is what these policies do,’ he said.

Lord Turner’s comments highlights the rising conflict between environmental
policies, which demand increasing energy costs to encourage emission cuts, and
the government’s need to respond to widening concerns over soaring energy
prices.

Although he refrained directly from criticising Brown, who last week made a
U-turn on motoring taxes and unveiled measures to ease fuel poverty, Lord Turner
said there were ‘huge opportunities of energy efficiency’, and that emphasis
should be on encouraging people to cut their fuel use, rather than easing price
pressures.

Further reading:

Turner confirmed as FSA chairman

Darling promises to review fuel duty hike

Read
the Financial Times story

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