Britain’s Chancellor of the Exchequer Philip Hammond stands exterior 11 Downing Street earlier than he delivers his finances assertion within the House of Commons in London, Britain, October 29, 2018. REUTERS/Henry Nicholls
LONDON (Reuters) – Britain will levy a brand new tax on these who make or import plastic packaging with lower than 30 p.c recycled materials, finance minister Philip Hammond stated on Monday.
The measure, to be launched in April 2022 topic to session, is an try to cut back waste and assist deal with local weather change.
“We will introduce a new tax on the manufacture and import of plastic packaging which contains less than 30 percent recycled plastic transforming the economics of sustainable packaging,” Hammond introduced as a part of his annual finances.
“The tax will provide a clear economic incentive for businesses to use recycled material in the production of packaging which in turn will create greater demand for this material,” the Treasury stated, following Hammond’s announcement.
Rupert Haworth, advertising and marketing director at Recycling Technologies, which converts waste plastic again into an oil to remake into plastic, stated the transfer would encourage recycling.
“This (…) should stimulate new investment in plastic recycling innovation and capacity here in the UK and provide recycled plastic feedstock to the industry.”
Hammond added that he would proceed to check the usage of single-use plastic in takeaway cups however had concluded tax wouldn’t be efficient in encouraging widespread reuse.
Writing by Elisabeth O’Leary; modifying by Kate Holton