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Lloyd Westcord: Environment Tax in UK replaces Carbon burden

03-28-2012 03:57 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Lloyd Westcord

The UK is planning to introduce an environmental tax in order to replace the thing that has been a burden on businesses which is the carbon-reduction program. The new tax will be made when the proposal goes live in the fall should the government not be able to abridge the so-called Carbon Reduction Commitment to lessen its administrative expenses. The UK Chancellor of the Exchequer George Osborne is serious in making sure that green tax is effective and not a complicated burden on business.

Starting 2014, Osborne will enforce a doubled payment on carbon emissions by utilities in a budget with few environmental announcements. He signify support for airport expansion near London, guaranteed measures to encourage and push investment in offshore oil and gas, and over five years, lessen environmental regulation to cut business costs by at least 1 billion pounds or USD$1.6 billion. Lloyd Westcord was notified that an estimated 5,000 UK organizations were enforced by the carbon-reduction commitment to pay approximately 3.5 billion pounds over four years in fees for emitting carbon.

Lloyd Westcord has become one of the largest Canadian based investment managers focusing on the growing environmental commodities markets. Our mission is to generate attractive returns by investing in environmental markets such as those that accelerate the reduction of greenhouse gases and air pollution or increase renewable energy generation.

Lloyd Westcord
1505-44 Charles Street, Toronto, ON ,M4Y 1R7
Phone: +18774509938
Fax: +18772801561
Terry Butler

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