Tax system linked to recycled materials

Posted on 4th July, 2018

The Treasury minister has said that the government is looking into how the tax system can link in with additional use of recycled materials.

The tax system focus was highlighted by exchequer secretary, Robert Jenrick, who was commenting on the unveiling of a £20 million fund introduced by science minister Sam Gyimah.

The fund follows on three months after Chancellor, Philip Hammond, called for evidence on how tax system changes could be utilised to reduce the levels of single waste plastic.

Speaking of this in more detail, Mr Jenrick said: “We are looking at how the tax system or charges can support our ambitions. Our recent call for evidence for views on this attracted a record 130,000 responses from the public, which shows just how important an issue this is.” He elaborated.  “We are tackling the issue of plastic waste to protect our environment for future generations. One important part of this will be backing the creation of innovative products and methods of recycling plastic.”

Mr Gyimah added: “There’s been incredible progress in making people aware of the danger that plastic can do to our environment and our oceans. We have announced a £20 million fund for our best scientists and researchers through UKRI to come up with new technology and also new plastics that do not harm the environment so much.”

The fund’s main objective is to explore new and efficient methods recycling plastic, managed by UK Research and Innovation (UKRI) and delivered through the Engineering and Physical Sciences Research Council (EPSRC), Innovate UK, and the Natural Environment Research Council (NERC).