Polluting elite need to pay carbon tax

The time is right for a new tax on the extreme carbon emitters, according to a new report from Autonomy, an independent research organisation.

The top 1% on its own (around 670,000 people) consume more carbon than 6.7 million people.

The report says there has been a huge missed opportunity to use tax to ensure those who pollute the earth pay some of the cost of cleaning it up! It explains that if a carbon tax had been set at the price proposed by the Swedish Ministry of Finance (£115 per ton of carbon), the revenue raised from the top 1% would have amounted to £126 billion over the last twenty-year period.