- The UK government has implemented green taxes, such as the plastic packaging tax (PPT), to encourage businesses to use recycled materials and reduce waste.
- However, some experts argue that more needs to be done to achieve the country’s net zero target by 2050.
- Recent research suggests that the UK lacks the capacity to recycle its own plastic waste and requires further investment.
- The PPT has generated more revenue than expected, potentially indicating that businesses are choosing to pay the tax rather than seek alternatives to virgin plastic.
- The government may need to adopt a two-pronged approach of taxing negative environmental practices while subsidising their alternatives.
Source RSM
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