EU environmental legislation to tax UK

New environmental legislation across European Union (EU) countries could impose a tax levy on the UK to pay for green goals.

According to a report in City AM, the European Commission has announced its plans to enforce European taxes on EU members to fund an annual budget of €140 billion (£116 billion).

The tax levy would be imposed on financial transactions, domestic aviation and carbon dioxide emissions.

Commercial secretary Lord Sasson has already voiced the British government's opposition to the plans.

He told the news agency: "The UK believes that taxation is a matter for member states to determine at a national level and would have a veto over any plans for such taxes."

One person who is likely to support the change is Bjorn Lomborg, an environmental author, who told the Daily Telegraph last month that European leaders need to do more to meet carbon emissions targets.

He said that EU member states should invest more money to fight the battle against climate change.

Posted by Claire Manning