France’s President Nicolas Sarkozy on Thursday announced plans to impose a new carbon tax on oil, gas and coal as part of a drive to combat global warming.
As part of a drive to combat global warming, French President Nicolas Sarkozy, on Thursday, announced plans to impose a new carbon tax next year on oil, gas and coal.
"The carbon tax will be created. It will be imposed as of 2010 on oil, gas and coal," Sarkozy said in a speech.
The new tax is set at 17 euro per ton of carbon dioxide (CO2) emitted, higher than a figure floated last week by Prime Minister Francois Fillon.
Revenues from the new tax will however be put back into taxpayers' pockets through other tax cuts and "green cheques", the French president assured.
The plan will make France the biggest economy in Europe to impose a carbon tax on households and businesses.
Finland was the first European country to impose a carbon tax, in 1990, followed a year later by Sweden and later Denmark.
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