MPA Hits Out at Government Decision to Double Cost of Green tax
The UK cement industry reacted with dismay today at the announcement in the Pre-Budget Report that the Climate Change Levy discount rate for those sectors with Climate Change Agreements (CCAs) is to be reduced from 80% to 65% in 2011.
Commenting on the move, the Mineral Products Association’s Chief Executive, Nigel Jackson said, “The cement and lime industries, like many others, are going through one of the deepest and most prolonged recessions since the Second World War. Year on year, cement sales are down by almost 30% and the industry is shedding jobs. The new cost doubles the amount the industry has to pay in Climate Change Levy. This is yet another fiscal burden on businesses that provide essential mineral products which are already struggling with the impact of the recession. The Chancellor seems to be oblivious to the fact that if we want to attract and retain foreign direct investment in this country then we have to put the right economic and fiscal framework in place to it make it better than investing elsewhere. This tax grab is not the way to do it.”