{
  "title": "Reconsidering Climate Mitigation Policy in the UK",
  "publication": "IMF Working Papers, December 4, 2020",
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  "summary": "The UK has pledged to cut greenhouse gases 57 percent below 1990 levels by 2030, to be emisisons neutral by 2050, and to phase out internal combustion engine vehicles by 2030.",
  "sections": [
    {
      "heading": "Key objectives and context",
      "content": "- The UK has pledged to cut greenhouse gases 57 percent below 1990 levels by 2030.\n- The UK aims to be emissions neutral by 2050.\n- The UK plans to phase out internal combustion engine vehicles by 2030.\n- Current policy framework involves multiple and overlapping pricing schemes with significant sectoral differences in carbon prices and may be difficult to scale up on political and administrative grounds."
    },
    {
      "heading": "Main proposal: alternative policy framework",
      "content": "- A comprehensive carbon price (ideally a tax) rising to at least £60 (US $75) per ton by 2030.\n- Reinforcing sectoral policies, most importantly feebates for the transport, industrial, and building sectors."
    },
    {
      "heading": "Rationale and expected outcomes",
      "content": "- The combination of a comprehensive carbon price and targeted feebates could:\n  - Implement mitigation targets.\n  - Limit burdens on households and firms to enhance acceptability.\n  - Still raise revenues of 0.8 percent of GDP in 2030."
    },
    {
      "heading": "Additional policy opportunities",
      "content": "- The UK could leverage its COP26 presidency to promote dialogue on:\n  - International carbon price floors.\n  - Pricing of international transport emissions.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2020/12/04/reconsidering-climate-mitigation-policy-in-the-uk-49891"
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    "Authors: Nicolas Arregui, Ian W.H. Parry",
    "Published: December 4, 2020",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513561264.001",
    "The UK has pledged to cut greenhouse gases 57 percent below 1990 levels by 2030.",
    "The UK aims to be emissions neutral by 2050.",
    "The UK plans to phase out internal combustion engine vehicles by 2030.",
    "Current policy framework involves multiple and overlapping pricing schemes with significant sectoral differences in carbon prices and may be difficult to scale up on political and administrative grounds.",
    "A comprehensive carbon price (ideally a tax) rising to at least £60 (US $75) per ton by 2030.",
    "Reinforcing sectoral policies, most importantly feebates for the transport, industrial, and building sectors.",
    "The combination of a comprehensive carbon price and targeted feebates could:",
    "The UK could leverage its COP26 presidency to promote dialogue on:",
    "**Working Paper**"
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