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October 26th, 2009 by Channel 4 News
The UK’s Green Fiscal Commission has issued a report “Doing What it Takes to Redue Carbon Emissions: The Case for Green Fiscal Reform” on using fiscal policy to reduce greenhouse gas emissions. The tax policy would be revenue neutral by taxing fossil fuel energy usage and using the revenue to subsidise energy efficiency measures and reward environmentally conscious consumers. Income taxes and National Insurance contributions would be reduced to compensate for the increase in energy and carbon taxes.
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