Billionaires to be given free carbon allowances to offset green tax on private jets

Source: Telegraph

Corporate jets used by billionaires the Duke of Westminster and Lord Ashcroft are among the aircraft to be allocated free “carbon allowances” to offset the cost of a new green tax.

Almost 200 corporate jet owners, from oil company ExxonMobil to Starbucks and Iceland Foods, will be awarded free permits to compensate them for the new expense of Europe’s carbon trading scheme for aircraft.

The emissions trading scheme means airlines will have to surrender a permit for every tonne of carbon dioxide they emit, which is expected to raise the cost of flying for millions of passengers.

Read More: Billionaires to be given free carbon allowances to offset green tax on private jets

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