Levy raises concern over competitiveness
Levy raises concern over competitiveness
- 1999
- Financial Times 10 March 1999, 3(1) .
The government announced an energy tax on businesses in the Budget. It is expected to raise at least £1.75bn in its first full year, from April 2001. This will be fully offset through cuts in employer's national insurance contributions from 12.2% to 11.7%. The levy will be paid by energy suppliers who will pass it on to industrial and commercial customers.
BUDGET 1999
ENERGY TAX
NATIONAL INSURANCE CONTRIBUTIONS
The government announced an energy tax on businesses in the Budget. It is expected to raise at least £1.75bn in its first full year, from April 2001. This will be fully offset through cuts in employer's national insurance contributions from 12.2% to 11.7%. The levy will be paid by energy suppliers who will pass it on to industrial and commercial customers.
BUDGET 1999
ENERGY TAX
NATIONAL INSURANCE CONTRIBUTIONS