United Kingdom (UK)

Country indicators

GDP per capita - gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. (Source: World Bank)

GDP per capita
(USD):

45,379.0

Fossil fuel subsidies (USD, billions) - All consumer and producer pre-tax subsidies. Pre-tax consumer subsidies exist when energy consumers pay prices that are below the costs incurred to supply them with this energy. (Source: IMF)

Fossil fuel subsidies (USD, billions):

0.01

Fossil Fuel Subsidies as % of GDP - All consumer and producer pre-tax subsidies as percent of a country’s GDP. (Source: IMF)

Fossil fuel subsidies
(% of GDP):

0.0

Fossil Fuel Subsidies with externalities as % of GDP - All consumer and producer post-tax subsidies. Post-tax consumer subsidies exist if consumer prices for energy are below supply costs plus the efficient levels of taxation. (Source: IMF)

Fossil fuel subsidies with externalities (% of GDP):

1.50

Revenue from environmentally related taxes as % of GDP - All revenue from environmentally related taxes - defined as any compulsory, unrequited payment to general government levied on tax-bases deemed to be of particular environmental relevance – as percent of a country’s GDP. (Source: OECD)

Revenue from environmentally related taxes (% of GDP):

2.38

Carbon pricing gap - Measure of how much countries fall short of pricing carbon emissions in line with a EUR 60 benchmark value (midpoint estimate of the carbon costs in 2020 and a low-end estimate for 2030). The difference is presented as percentage: If the Effective Carbon Rate (ECR) on all emissions is at least as high as the benchmark, the gap is zero, and if the ECR is zero throughout, the gap is 100%. (Source: OECD)

Carbon Pricing Gap
(%):

56 News

Dirty Subsidies: How Europe sabotages its climate goals (Investigate Europe)

2020-07-06

2020 was supposed to be the year the EU would launch its ambitious plan to tackle the climate crisis. But why does Europe sabotage its

UK carbon pricing proposal does not learn from EU’s mistakes (Rethink)

2020-06-09

The UK government has proposed its new carbon pricing scheme to replace the European Emissions Trading System (ETS) upon the country’s split with the EU,

A road map for motoring taxation (S. Adam and R. Stroud, 2019)

2019-11-08

Revenue from fuel duties peaked at 2.2% of national income in 1999–2000 in the UK. However, the duty-levels have since decreased, resulting in a revenue

Reports

Carbon pricing design: Effectiveness, efficiency and feasibility (OECD)

2020-06-29

Carbon pricing helps countries steer their economies towards and along a carbon-neutral growth path. This paper considers how the design of carbon pricing instruments affects

New Plastics Economy Global Commitment progress report 2019 (Ellen MacArthur Foundation and UNEP, 2019)

2019-11-22

The Ellen MacArthur Foundation and the UN Environment Programme published the first annual New Plastics Economy Global Commitment progress report. Launched in 2018, the Global

Demand Recycled: Policy Options for Increasing the Demand for Post-Consumer Recycled Materials (Eunomia)

2018-12-06

A new report by Eunomia, an environmental consultancy, analyses a range of policy options to promote the use of more recycled materials. It investigates in

Policy Briefs

Redesigning tax for a just, green recovery (Common Wealth)

2020-06-02

In response to Covid-19, the Treasury is considering changes to the UK’s tax system on a scale not seen for decades. While changes to the

Financing low-carbon growth and innovation in the UK Industrial Strategy (Grantham Research Institute)

2017-04-28

This policy brief by the Grantham Research Institute outlines how the public sector can crowd in private finance to support low-carbon growth and innovation in