HISTORIC PRESS RELEASE : Climate change levy will benefit UK Economy & the Environment says WWF Report [September 1999]

The press release issued by HM Treasury on 29 September 1999.

The UK arm of the Worldwide Fund for Nature (WWF-UK) have set out their support for the Government’s proposed climate change levy in a report published today.

Welcoming the report, Financial Secretary Stephen Timms said:

“WWF’s study into the effects of the climate change levy confirms that our proposed levy will be of benefit to the UK economy as well as to the environment.

“It is important to remember, as the WWF report demonstrates, that most firms will be net beneficiaries of the levy. We are aware of the concerns of energy-intensive industries, and intend to set significantly lower rates of the levy for sectors that agree targets for improving energy efficiency. Discussions over these targets are continuing.

“The Government is committed to a full and open consultation on the climate change levy, with business and other interested parties, to ensure the levy is designed in such a way as to maximise environmental effectiveness, whilst safeguarding competitiveness. The WWF report is an important part of that process.”