France Set to Impose Carbon Tax to Combat Global Warming

France has announced that they will begin to impose a new carbon tax next year as a means of combating global warming.

The new tax, announced by French President Nicolas Sarkozy, will cover the use coal, gas and oil and cost 17 euros per tonne of emitted carbon dioxide. Sarkozy has said the money brought in from the new tax, an estimated 4.3 billion euros, would be returned to taxpayers through tax cuts in other areas as well as “green checks.”

While households and businesses will be targeted in the new tax heavy industries and power firms included in the European Union’s emissions trading scheme would be exempt.

Critics of the new tax have said Sarkozy is simply trying to raise money to support the struggling finances of the country but the President has insisted the goal of the tax is to change France’s habits and cut energy consumption.

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