User login

Budget 2017: levy control framework to be replaced

Budget 2017: levy control framework to be replaced

8th March 2017

The levy control framework will be replaced with a new set of cost controls which will be “set out later this year”, the chancellor Philip Hammond has revealed in his 2017 spring Budget. Starting in 2021/22 the government will also “target a total carbon price” and “set a specific tax rate at a later date, giving businesses greater clarity on the total price they will pay”. “Further details on carbon prices for the 2020s” will be laid out in the coming autumn budget.

The chancellor confirmed that a green paper examining markets which are not working “efficiently or fairly” will be published "shortly". Initial steps by the government to protect consumers will include legislation enabling enforcement bodies such as the Competition and Markets Authority to request court-ordered fines against companies that break consumer law.

Read more - Spring Budget 2017

Read more - UtilityWeek