Industry issues carbon tax warning

The closure of Britain’s last coal plant in 2024 has been attributed to carbon taxes rather than renewable energy advancements. The Government doubled the carbon tax in 2015, significantly impacting coal’s viability. Sir Jim Ratcliffe, CEO of Ineos, argues that these taxes are “killing manufacturing” and increasing reliance on imports. Experts argue that these taxes inflate electricity prices, costing households an average of £70 per year, and call for a reassessment of the current carbon pricing strategy.