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Independent: It is little surprise that Defra has so firmly rejected proposals from the European Commission that revenue derived from auctioning emission permits be earmarked for spending on climate change initiatives. As on everything to do with the growing burden of business taxes, ministers have got their heads buried in the sand. The UK Government has always been philosophically opposed to hypothecated taxes, and it shows no sign of budging on the new forms of taxation being introduced to curb ... Read »