Green economy: MPs warn over lack of plan to manage fossil fuel tax loss

Green economy: MPs warn over lack of plan to manage fossil fuel tax loss

MPs say Treasury has not set out how tax system will help UK meet target to cut emissions

The Treasury cannot explain how it will manage declines in tax revenues worth £37bn from fossil fuels as the UK shifts to a clean economy, MPs have warned.

A report from the influential parliamentary public accounts committee also warned that the Treasury had not set out how the tax system was going to help the government meet the target to cut emissions to “net zero” by 2050.

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