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The Financial Secretary to the Treasury (Lord Livermore) (Lab)

Speaking in the House of Lords on 12 March 2025

Debate

Carbon Border Taxes

Contribution

My Lords, this is already the case. To ensure that the costs of complying with the UK carbon border adjustment mechanism are proportionate, it will apply only to those firms importing CBAM goods valued at £50,000 or more over a rolling 12-month period. The Government estimate that this will exclude 80% of CBAM-eligible firms while retaining more than 99% of imported emissions within the scope of the tax.

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