‘Carbon floor price’ plans dealt a blow by MPs

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‘Carbon floor price’ plans dealt a blow by MPs

Plans to prop up the price of carbon for businesses would push up the cost of energy and disadvantage British companies, say select comitteeGovernment plans to prop up the price of emitting carbon dioxide for businesses have been dealt a blow by MPs, who have blasted the proposals as a handicap to British companies. The “carbon floor price” would ensure that companies were paying a minimum price for producing carbon, in contrast to the European Union’s existing emissions trading scheme under which the price of emissions can plunge to near zero.