Environmental investment hampered by tax system
Brewery FD hits out at tax system which he believes is holding back green industrial investment
The UK’s tax system does not support environmental industrial investment,
claims Stephen Pugh, finance director of Adnams brewery.
Pugh wrote in a letter to the
Financial
Times: “Those who pay extra to construct buildings that use less energy
will receive no allowances.”
He added tax authorities told Adnams they would not receive a tax relief for
buildings which needed no artificial cooling systems – even though they use less
energy.
However, the traditional style buildings, which need cooling and heating
equipment, were able to claim a tax relief.
Pugh is calling on the political parties to address the situation in order to
encourage industrial investment.
Further reading:
Greater
taxes on carbon needed, warns parliamentary committee
France
and Italy call for international carbon tax
KPMG
warns FDs that carbon law will hit bottom line
