Businesses need tax breaks to achieve net zero

The government needs to review tax policy to encourage investment in net zero projects, including specific tax breaks and capital allowances

The independent review of net zero, the Mission Zero report, is calling on the Treasury to review by the end of 2023 how tax policy incentivises investment in decarbonisation, including via the tax system and capital allowances.

The Department for Business (BEIS) and the Treasury also need to review how to incentivise greater research and development (R&D) for net zero, including considering the role of clarity on research priorities and government support, tax credits, greater ring-fencing of R&D spend, and enabling regulations.

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