To meet the net zero target by 2050 a carbon price is a necessary (but not sufficient) part of the decarbonising policy architecture. Its time is coming: after the transition ends with the EU, from 1st January 2021, the UK will have its own carbon pricing mechanisms.
This podcast explains why a carbon tax is better than shadowing the EU ETS or inventing a new UK ETS. It tackles the carbon border adjustment issues, and knocks down each of the objections raised by the various interests. It explains how a single carbon price across energy, transport and agriculture would maximise the role of markets and bring carbon offsetting into the mix. Starting by amalgamating all the various carbon prices that already litter the policy landscape, the podcast goes on to set out how a carbon tax can be pragmatically implemented.