Green taxes raised should be ring fenced to help tackle climate change rather than used in general public finances.
Around 90% of business surveyed by Hacker Young said taxes raised through green initiatives should be channelled solely into dealing with climate change, instead of meeting a shortfall in public finances.
The firm had recently calculated that just 2% of green tax revenues went towards protecting the environment.
'Gordon Brown’s enthusiasm for reducing the UK’s carbon emissions is viewed with suspicion by many who think that green taxes are a very convenient way of plugging the widening gap in public finances under the façade of tackling climate change,' said UHY Hacker Young tax partner Roy Maugham.
Further reading:
related content
Business leaders urge government to reinvest revenue raised from carbon credit auctions in green initiatives 08 May 2008
European Parliament proposal to ensure cash from auctioning carbon credits to airlines goes to fund green projects looks set to be rejected by the UK 13 Aug 2008
Report claims policy measures are failing to match environmental rhetoric 10 Sep 2008
The number of people paying the highest level of income tax has almost doubled under Labour 30 Jan 2008
Plans to make energy efficient products cheaper to be aired at EU summit, as Commission President rattles sabre at US and China over post Kyoto deal 13 Mar 2008
Green group heralds new energy efficient laptops as major step forward in Apple's environmental performance 15 Oct 2008
Amendment added to Energy Bill that could see feed-in tariffs introduced 15 Oct 2008
More news
Global logistics giant claims thousands of tiny efficiencies can deliver big carbon savings 13 Oct 2008
The entire US financial system may be on the ropes, but according to Richard Seireeni, the recently formed "Salmon Nation" financial network is doing just fine 09 Oct 2008
BusinessGreen.com casts its eye over the simplest means of harnessing some geothermal power 08 Oct 2008 More in-depth
what do you think?
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
Reader comments for this story
