UK to Propose Carbon Border Tax on Steel Imports: FT

The UK will propose a carbon tax that would place a levy on imported steel in order to level the playing field for British Steel and Tata Steel UK against rivals operating in regions with lower environmental standards, the Financial Times reports, citing two people familiar with the situation.

• Proposed tax is part of a support package for the two UK steelmakers
• UK Chancellor Jeremy Hunt will also offer bespoke aid for the steel industry on its electricity bills beyond what the Treasury announced for industry earlier this month, the newspaper says
• UK government’s business department declined to comment to ...