The Secretary of State for Business, Energy and Industrial Strategy Committee has stated that the UK is on track to meet the 'challenging' target of net zero carbon emissions by 2050. Since 1990 emissions have reduced by 45% in the UK but the economy has grown by 80%. Thus, we believe that the Tax reform has great potential in meeting the target of net zero.
We conducted several online semi-structured interviews with representatives with an interest in policymaking or engaged in leadership roles in sustainability and climate change from both SMEs and large companies in the UK. We considered their experiences and concerns regarding the current UK environmental tax system, as well as their insights of risks and concerns with attempting to improve the systems and we made recommendations for the Business, Energy and Industrial Strategy Committee.
Our research-based first recommendation will create a better understanding of how the tax system can contribute towards net zero with other environmental objectives. The second recommendation is about changes in the model of environmental tax that will support the economy towards a transition to net zero carbon.
The findings of the written evidence help guide the policymakers to make necessary reforms in the current environmental tax system to support the other initiative taken by the government to reach the net zero carbon target by the deadline. The research is mainly focused on the UK environmental tax system but also covers cross-border tax.
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Related Research Group(s)
Accounting and Auditing - Investigating current issues in accounting that include financial reporting, assurance, corporate governance, corporate social responsibility and business models in large and small business entities
Entrepreneurship and Sustainability - Our focus is on how individuals, businesses and societies can tap into creative and entrepreneurial flair to develop innovative solutions, in order to not only create economic value, but also solve social and environmental problems.
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Organisations interested in our research can partner with us with confidence backed by an external and independent benchmark: The Knowledge Exchange Framework. Read more.
Project last modified 12/10/2023