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Environmental and Public Finance Aspects of the Taxation of Energy

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  • Smith, Stephen

Abstract

This paper reviews potential applications of environmental taxes in the energy sector. Theoretical and practical arguments for using environmental taxes are reviewed, and possible arrangements outlined for levying environmental taxes on energy. In contrast to most environmental taxes, taxes on energy have the potential to raise revenues sufficient to alter the constraints and opportunities in fiscal policy. A carbon tax levied at a rate of 200 pounds per tonne could raise revenues equivalent to about 11 per cent of total UK tax receipts, allowing income tax to be halved, or corporation tax abolished. Inappropriate use of the revenues, or their unnecessary dissipation, can greatly add to the costs of environmental policy. But, environmental taxes are unlikely reduce the overall excess burden from taxation below the current level, and the case for ecotaxes must thus primarily be made in terms of their environmental benefits. Copyright 1998 by Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 14 (1998)
Issue (Month): 4 (Winter)
Pages: 64-83

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Handle: RePEc:oup:oxford:v:14:y:1998:i:4:p:64-83

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Cited by:
  1. Edwards, T. Huw. & Hutton, John P., 2001. "Allocation of carbon permits within a country: a general equilibrium analysis of the United Kingdom," Energy Economics, Elsevier, vol. 23(4), pages 371-386, July.
  2. Parry, Ian, 2003. "Fiscal Interactions and the Case for Carbon Taxes over Grandfathered Carbon Permits," Discussion Papers dp-03-46, Resources For the Future.
  3. John Creedy & Catherine Sleeman, 2004. "Carbon Taxation, Prices and Welfare in New Zealand," Treasury Working Paper Series 04/23, New Zealand Treasury.
  4. Edwards, T. Huw & Hutton, John P., 1999. "The Allocation of Carbon Permits within One Country : A General Equilibrium Analysis of the United Kingdom," The Warwick Economics Research Paper Series (TWERPS) 540, University of Warwick, Department of Economics.
  5. Dieter Helm, 2005. "Economic Instruments and Environmental Policy," The Economic and Social Review, Economic and Social Studies, vol. 36(3), pages 205-228.
  6. Soloveitchik, David & Ben-Aderet, Nissim & Grinman, Mira & Lotov, Alexander, 2002. "Multiobjective optimization and marginal pollution abatement cost in the electricity sector - An Israeli case study," European Journal of Operational Research, Elsevier, vol. 140(3), pages 571-583, August.

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