31 October 2006, The Independent

Business backs Stern but warns of 'penalising' taxation burden

Business yesterday pleaded with the Government that it should not be hit by extra taxation, in reaction to the publication of the Stern report on the economics of climate change and called for the burden of emissions reductions to be spread more evenly across society, writes Saeed Shah.

Mark Woodall, the chief executive of Climate Change Capital, an investment banking group specialising in clean energy,said: "We have had opportunities in the past to advance this agenda: it has been blocked by business groups who have used economic arguments as a defence. Now we cannot allow such counter-arguments to win the day. The science debate is over, the Stern Report has shown that the economic debate is pretty much over. Now the political debate is the only one left."

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