UK: Energy guzzlers to receive carbon tax breaks

Companies in the metals, chemicals, engineering and manufacturing sector receive climate change tax reprieve.

George Osborne has bowed to pressure from the CBI to offer tax breaks to firms hit by Britain’s climate change policies. His u-turn comes after the business lobbying organisation, alongside steel magnate Ratan Tata and Ineos CEO Jim Ratcliffe, warned that energy-intensive business would up sticks and go abroad if overly-punitive levies were imposed.

Wait a minute: I thought that CO2 swindle regulation was supposed to make businesses *more* competitive and *more* profitable.

If that's really true, shouldn't new businesses be clamoring to relocate *to* Britain, rather than existing businesses threatening to *leave* Britain?