Report

FFS? Fossil fuels support in the UK tax system

Publisher
Government subsidies Fossil fuels Taxation United Kingdom
Resources
Description

As the host of the recent 26th United Nations Climate Change Conference of the Parties (COP26), the United Kingdom had an opportunity to showcase leadership in taking decisive steps towards deep transformation and decarbonisation of the economy. Further, the UK Government’s recently published net-zero emissions by 2050 strategy provides a foundation to develop a publicly-directed programme of rapid decarbonisation and shared prosperity, and highlights that ​‘we do need to reduce our reliance on hydrocarbons as swiftly as possible.’

Yet, despite its domestic climate goals and international commitments, the UK Government continues to offer a number of tax reliefs for both domestic production and consumption of fossil fuels. In the last 5 years, the value of government support to fossil fuel companies mounted to approximately £12 billion annually (on average).

Findings in this report uncover that despite the UK being a part of the December 2015 Paris Agreement on climate change, the level of fossil fuel support in the UK tax system has not been substantially reduced.

Publication Details
Access Rights Type:
open