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European Commission Is Planning Tax on Commodities, FAZ Reports

Aug. 18 (Bloomberg) -- The European Commission may introduce a tax on raw materials including wood, metal, water and fossil fuels, Frankfurter Allgemeine Zeitung reported, citing an internal commission document.

The proposal is intended to encourage households and industry to make more efficient use of commodities to protect the environment and increase member states’ competitiveness, FAZ said.

Economies would grow one percent if they were able to use natural resources 20 percent more efficiently, FAZ said, citing the document.

To contact the reporter on this story: Alex Webb in Frankfurt on awebb21@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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