THE CHANCELLOR has unveiled further reductions to environmental levies for the most energy intensive businesses in his latest Autumn Statement.
Energy intensive businesses which previously received an 80% discount on the Climate Change Levy (CCL) will now see this increase to a 90% discount from April 2013.
Currently, every business must pay a levy on electricity used directly to its energy supplier. However, all companies which agree with the government to reduce energy consumption receive an 80% discount. The government has now increased that discount to 90%.
The Department for Energy and Climate Change (DECC) has spent the past few years incentivising businesses to make their operations environmentally friendly by discounting levies by 80% if they sign up to a climate change agreement.
The government estimates that the increased discount will cost £75m over four years to 2016/2017.
CVR Global were appointed in March after the struggling company ammassed around £1m debts
The EU could raise €35bn through environmental taxes in two years removing burden on employment taxes, study finds
First ever integrated reporting framework released following publication of outline, and international consultation
Exploration businesses to pay less tax on their profits because capital expenditure relief will be significantly increased