OECD: Taxes on polluting energy sources ‘too low’

Taxes on polluting forms of energy are too low to curb their use and fight against climate change. That’s the suggestion from the Organisation for Economic Co-operation and Development (OECD), which says advanced economies should use taxation systems better to reduce energy use, improve energy efficiency and drive a shift toward low carbon sources of […]

UK oil consultancy director banned for not paying taxes

An oil consultancy director has been banned for not paying his taxes. Graeme Rogerson, who was the sole director of GKTD Limited, has been disqualified from acting as a director for five years after paying himself more than £379,000 up to January 2015 but not his taxes. HM Revenue and Customs was the company’s only […]

Energy is “mispriced” says IMF boss Christine Lagarde

Energy is “pervasively mispriced” around the world the International Monetary Fund’s Managing Director Christine Lagarde declared yesterday. Her comments came as the IMF published a report which found reforming taxes could significantly reduce pollution-related deaths. In a speech at the Center for Global Development, Lagarde argued government policies must push for “responsible” energy prices to […]

Energy Minister to be quizzed on “harmful” energy subsidies

Business and Energy Minister Michael Fallon will be quizzed by MPs tomorrow about which UK energy subsidies could be “harmful”. He will appear before MPs on the Environmental Audit Committee alongside officials from the Treasury, the Department for International Development and UK Export Finance. How much support the taxpayer gives to different power sources has […]

David Cameron dodges question on green levies for the chop

Prime Minister David Cameron yesterday dodged questions about which green levies he has in his sights. On Wednesday during Prime Minister’s Questions he declared it was time to “roll back” green levies and taxes on energy bills. These are recycled to pay for renewable power sources and energy efficiency subsidies. Probed on the issue yesterday, […]

European industry smacked ‘with €13bn energy costs’

European industrial energy buyers will be smacked with an extra €13billion (£11bn) on their energy bills over the next five years, it was claimed today. Rising wholesale prices will pile pressure onto firms already struggling with the euro crisis, growing oil prices and the “burden” of environmental legislation, suggests new research by EnergyQuote JHA. Countries […]

Energy prices are ‘bigger threat’ than unemployment

UK consumers believe rising energy prices are the “biggest threat” to their finances and standard of living. That’s according to YouGov’s new ‘Household Economic Activity Tracker’ (HEAT), which found people are more concerned about energy bills going up than they are about unemployment, inflation and taxes. On a scale of 1 to 10, where 1 […]