UK climate tax spells trouble for steel industry

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UK climate tax spells trouble for steel industry

March 31 2000

The UK steel industry is worried that government plans for a climate tax in 2001 could drive foreign investment out of the country. Although the tax was first announced in March 1999, industry protests forced the UK Treasury to slash the levy from £1.75 to £1 billion in November. But energy-intensive companies are lobbying for further reductions.

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