According to the Centre for Policy Studies – a right-wing think tank which focuses on free market policies – a carbon border tax on energy intensive imports would see importers from outside of the UK “put on a level playing field with British businesses”, they say this would help support the economies in many of the same areas the government wants to “level up”.
The tax would work as a deterrent for importers to sell certain goods in the UK, and the European Union has previously suggested a similar structure for imports into the bloc.
The Centre For Policy Studies report suggests that as the UK government moves to reduce the emissions of heavy industry in Britain, the economic burden placed on companies could rapidly make foreign-made goods more competitive.
Read more in The Independent here.
Date Added: Tuesday 8th February 2022