CRC to be abolished by the end of 2018/19
Chancellor George Osborne has confirmed in this year’s Budget that the CRC will be abolished.
Speaking yesterday in his Budget 2016 announcement, Osborne said: “Many retailers have complained bitterly to me about the complexity of the Carbon Reduction Commitment (CRC). To make good the lost revenue CCL will rise from 2019, but steel remains protected and I am extending climate change agreements that help many others.”
Osborne will consult later in 2016 on a simplified energy and carbon reporting framework for introduction by April 2019.