Industry disappointed by 1999 U.K. budget

The U.K. petroleum industry has voiced its disappointment with the U.K. government's 1999 budget, under which taxes on transportation fuels will be increased in a bid to curb objectionable air emissions. In a budget speech before Parliament on Mar. 9, Chancellor Gordon Brown introduced measures intended to reduce emissions of the greenhouse gas carbon dioxide. "Our government's target," said Brown, "is to reduce greenhouse emissions by 12.5% by 2010. Today, I will announce a program of measures that will cut (annual) carbon pollution by 3 million metric tons." Brown anticipates that a levy on the use of energy by business, to take effect in April 2001, will lead t...

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