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<p>HM Treasury supports the wider work of the government on this issue through spending
but also sets environmental tax policy, encouraging more sustainable production and
consumption.</p><p> </p><p>For example, the Carbon Price Support incentivises investment
in renewable energy and has contributed to a rapid decline in the use of coal in power
generation. This helps to deliver cleaner energy for manufacturers and consumers.
In the construction industry, the Aggregates Levy is shifting demand towards recycled
and byproduct building materials and reducing the need to quarry for new materials.
Tax is also transforming how we deal with waste. Since the Landfill Tax was introduced
in 2000, the amount of waste going to landfill has decreased by 65% in the UK. Recycling
has increased from 18% to 44% over the same period.</p><p> </p><p>HM Treasury is now
exploring how the tax system or charges could be used to make the production and consumption
of single-use plastics more sustainable. The Chancellor further supported this goal
by committing £20m to businesses and universities, acting now to stimulate new thinking
and rapid solutions in this area.</p>
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