The Budget brings refined fuel products into the Carbon Border Adjustment Mechanism (CBAM), according to the industry body Fuels Industry UK. It says the aim is to help UK refineries compete, but that no firm start date has been set.
Elizabeth de Jong, chief executive of Fuels Industry UK, told LBC that "the lack of a firm target date to implement a CBAM for refined products will be a concern for the UK's remaining refineries."
The account of the measure comes from Fuels Industry UK. It has not yet been checked against the Budget documents.