UK failure to seal EU tax exemption hands industry mountain of paperwork

UK manufacturers are to be hit with mountains of Brexit-style paperwork in January on £7bn worth of exports to the EU after the government failed to secure an expected exemption from new green taxes. The UK had hoped to secure a carve-out by Christmas on the carbon border adjustment mechanism (CBAM), but EU commissioners have confirmed this is not going to happen. UK Steel says the exemption is unlikely to be in place before Easter, resulting in new detailed paperwork for exporters, in a repeat of Brexit when they were hit with new paperwork on customs and standards of their…