Autumn Statement: Plastic Packaging Tax Increase & Mass Balance Statement

On 22 November, Chancellor of the Exchequer Jeremy Hunt published the Autumn Statement 2023. Included were changes to the rate of Plastic Packaging Tax (PPT) will increase in line with the Consumer Price Index (CPI). The new rate of PPT will be £217.85 per tonne and will apply to all plastic packaging, containing less than 30% recycled plastic that is manufactured and imported into the UK on and after 1 April 2024.

Additionally, in a statement from His Majesty’s Revenue and Customs (HMRC), an appreciation was published regarding the engagement around the PPT in relation to the Mass Balance Approach (MBA), as well as a reminder of the Single-use Plastics (SUP) ban and related enforcement information. However, there was no announcement about the outcome of that consultation and no indication of when that will happen.

The Autumn Statement 2023 can be read by clicking here.