FACTURERS yesterday slammed the lack of any compensation for energy tax in yesterday’s Autumn Statement.
The carbon price support is a tax on fossil fuels used for electricity, which raises costs for energy-intensive industries. “The compensation scheme was notable by its absence,” said Jayne Harrold, environmental tax specialist at PwC. “The government needs EU state aid approval for the scheme and I expect it has not achieved that yet.”
“Industry will be dismayed that government has failed to address the genuine concerns surrounding the uncompetitive price of energy for UK manufacturers,” said Terry Scuoler, chief executive of manufacturers’ organisation EEF.