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British Government Scraps Climate Change Levy Exemption
UK Chancellor of the Exchequer George Osborne confirmed Wednesday that his previously announced financial initiatives to revitalise the UK North Sea oil and gas industry will go ahead, and also said he would remove the climate change levy [exemption] in his first budget since the Conservatives won the UK general election in May. –Alliance News, 8 July 2015
Drax Group Plc, the utility converting the biggest U.K. coal station to burning wood pellets, plunged to its lowest ever after the government said clean power will have to start paying a climate-change tax. The stock tumbled 28 percent in London to the lowest since it started trading in 2005. Shares of Infinis Energy Plc, a Northampton-based developer of clean power listed in London, also slumped 8 percent to the lowest since November 2013. –Louise Downing, Bloomberg, 8 July 2015
Source: http://www.climatechangedispatch.com/british-government-scraps-climate-change-levy-exemption.html
