Vehicle Fuel Taxes. Recent increases in the price of petrol have led to the current debate about the rate that petrol is taxed in the UK. Although rising oil prices have contributed to the increased cost, the government has been criticised for imposing a high tax rate on petrol and other road fuels. In this briefing note, Zoë Smith looks at the arguments for and against a fuel tax. "The petrol tax debate" is published by the Institute for Fiscal Studies.
By Institute for Fiscal Stdies, UK.
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Climate Change and Basic Income. The Sky Trust initiative is a proposal to use market-based incentives to efficiently reduce the U.S. economy?s massive output of greenhouse gases. All entities introducing fossil fuels into the U.S. economy would be required to obtain emission permits for the carbon in that fuel. The U.S. government would auction emission permits for 1.346 billion metric tons of carbon, the 1990 emission level. Initially 75% of the receipts from government sales of emission permits would be returned in equal annual payments to each U.S. legal resident. In the plan?s first year, 25 percent of proceeds from sale of permits would be made available to offset any unusual burdens imposed on either producers (firms or employees) or on consumers (such as people who must drive long distances).
By Centre for Economic Development, US.
The Costs of Kyoto. This paper presents an estimation of the cost of reducing CO2 emissions as agreed in Kyoto by Annex 1 countries. It focuses on European Union countries abatement costs and, using a simple model, estimates the role of each EU country within a EU market as well as an Annex 1 market. The marginal (and total) abatement costs for each EU country, as well as the EU total cost, are presented. "Kyoto Commitment And Emissions Trading: A European Union Perspective" by Umberto Ciorba, Alessandro Lanza and Francesco Pauli.
By CRENos, Italy.
Ecological debt and global warming . Andrew Sims argues that developed countries have run up an ecological debt by over-using the global economy. Less developed countries may well seek compensation through international courts ? or, perhaps, through reverse debt swaps, in which environmental debts are exchanged for rich countries' equity. The way forward may be through the trading schemes envisaged in the Contraction & Convergence plans of the Global Commons Institute.
By New Economics Foundation, UK.