FRANCO-BRITISH AXIS OVER GREEN TAXES
July 1st, 2007
BY KEITH NUTHALL THE NEW leaders of Britain and France have teamed up to pressurise the European Union (EU) into allowing special low rates of VAT for some environment-friendly products. French president Nicolas Sarkozy and UK prime minister Gordon Brown announced in Paris they would jointly push for low 5% VAT for cars with reduced CO2 emissions, insulation materials, efficient light bulbs and energy-efficient appliances. This compares with Britain's 17.5% and France's 19.6% standard VAT. Special VAT rates within the EU must be approved by the EU Council of ...
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