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Could this be the end of CRC?

Following George Osborne's latest budget, the CRC Energy Efficiency Scheme could potentially be replaced by an “alternative environmental tax” if the scheme cannot be simplified. Mr Osborne criticised the scheme for being “cumbersome” and “bureacratic” and suggested he wanted to lighten the burden on businesses.

Under the mandatory CRC Energy Efficiency Scheme, large public and private sector organisations must report on their energy use and emissions and face large fines and other penalties if they are non-compliant.

The Chancellor said: “The Carbon Reduction Commitment was established by the last government. It is cumbersome, bureacratic and imposes unnecessary costs on business so we will seek major savings in the administrative cost of the commitment for business.If those cannot be found I will bring forward proposals this Autumn to replace the revenues with an alternative environmental tax.”

DECC will be bringing out full details of how they want to simplify the CRC next week and a formal consultation will be launched to give businesses a chance to have their say.