Environment tax may be headed toward pension fund
The government's new tax for environmental protection, the so-called "environmental tax," will be put into effect as of January, 2006. The government is claiming officially that the new tax is to provide funding for measures aimed at preventing global warming.
However, a confidential document of the Ministry of Environment (MOE) indicates that the new tax revenue will be used to make up the shortfall in the National Pension fund.
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I shouldn't really be surprised as governments do this all the time (think alcohol and cigarette taxes). I am surprised that other governments haven't tried the same con, as it is well known that the general public buys into 'Green' taxes even if the money end up going into road construction.
