HC Deb 08 May 2000 vol 349 c260W
Mr. Portillo

To ask the Chancellor of the Exchequer what will be the net financial impact, in the first financial year of its operation, of the climate change levy on(a) the automotive industry, (b) the farming industry, (c) the shipbuilding industry and (d) manufacturing industry in the West Midlands. [120992]

Mr. Timms

[holding answer 5 May 2000]The Climate Change Levy package as a whole is expected to be revenue neutral for the private sector. Its introduction will entail no net financial gain for the public finances. The levy package as a whole is also expected to be broadly neutral between the manufacturing and the service sectors.

The Government have sought to design the climate change levy in a way that maximises its environmental effectiveness while protecting the competitiveness of UK firms. It is not possible to say with precision what the effects of the climate change levy on individual sectors or firms will be, since this will depend, among other things, on each sector's future energy use, employment trends, and take up of the various incentives to improve energy efficiency.

Back to
Forward to