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March 14, 2023

The UK needs a carbon tax to finance its future

By Peter Bachmann
Ørsted’s Burbo Bank Extension windfarm. The Danish company is among the green energy producers urging greater UK funding. (Photo: Ørsted)
Ørsted’s Burbo Bank Extension windfarm. The Danish company is among the green energy producers urging greater UK funding. (Photo: Ørsted)

A progressive carbon tax on fossil fuels is crucial to funding the UK’s climate agenda – and its ability to compete with the US Inflation Reduction Act.

The Spring Budget is just around the corner and the interdepartmental quarrelling has reached a crescendo, with defence looking set to receive the greatest funding increase in response to growing global threats.

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