UK's Sunak plans carbon emissions tax to help rebuild economy: The Times

[BENGALURU] British Finance Minister Rishi Sunak is planning for a UK-wide carbon tax that could raise billions of pounds while encouraging the drive towards net-zero emissions, The Times reported on Friday.

Mr Sunak is seeking to replace existing EU carbon-reduction schemes with the new tax when the transition period finishes at the end of the year, the report added.

Government officials are also looking at longer-term proposals to extend the tax to other areas including domestic gas and agriculture, which could raise more than £25 billion (S$44 billion) by 2030, the newspaper said.

REUTERS