Revenue from the British plastic packaging tax (PPT) declined to £268m (approximately €315m) in the financial year from 1 April 2023 to 31 March 2024, according to the tax authority HM Revenue and Customs (HMRC). The tax is levied on plastic packaging containing less than 30 per cent recycled plastic and must be paid by companies that manufacture or import more than 10 tonnes of this packaging within a twelve-month period.
HMRC reported that receipts from the plastic tax in 2023/24 were roughly six per cent lower than in the previous year when they totalled £285m. In the first year running from April 2022 to March 2023, the tax was set at £200 per tonne. It then climbed to £210.82 per tonne in the following year before rising to £217.85 per tonne with effect from 1 April 2024....
