UK to introduce carbon tax on steel imports from 2027

Plan, which aims to support domestic producers, will also apply to iron, ceramics and cementBusiness live - latest updatesImported raw materials such as steel and cement will incur a new carbon tax from 2027 under UK plans designed to support domestic producers and reduce emissions, but the government is facing criticism for not moving fast enough.The Treasury said the tax would help address the phenomenon of "carbon leakage", in which UK manufacturers are undercut on price by foreign rivals whose governments do not impose levies on businesses that emit a lot of carbon. Continue reading...