EU must be joking! Price of goods set to soar up to 75% as bloc unleashes new green tax

Later today, the EU Commission will reveal its Sustainable Products Action Plan, which will detail plans to increase regulation on everyday products to boost their sustainability. The proposal is expected to ramp the environmental standard on a range of household goods like clothes, TVs and smartphones.

Experts have warned that these regulations will likely increase the costs of goods made in Europe, at least in the short term.

Under the proposed Sustainable Products Regulation, EU leaders will demand the products adhere to strict energy efficiency standards, and also to the sticking to the concept of a “circular economy”.

A circular economy is a system where products manufactured have to be designed to become easier to refurbish, repair and maintain.

The proposal also demands that companies create a Digital Product Passport that will contain information about products’ components and recyclability.

This passport will be similar to the bloc’s Ecodesign Directive that issued a mandated energy efficiency labelling in a A to G grading system.

This new passport will include information on the how recyclable a particular product is.

William Neale, adviser for circular economy at the European Commission’s environment department has previously told EURACTIV: “We really need to make sure that the products that are put on our markets are designed to be durable, repairable, and so on.

“So this is what we tried to do in the sustainable product initiative.

“It can be one thing which can ruin a batch, which can render unviable recycling and can contaminate a lot. We need to know about that.

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These regulations are likely going to make a wide range of EU products cost more and companies scramble to reach environmental standards.

According to a recent study by Netherlands consulting firm Kearny, sustainable or “green” products are generally about 75-85 percent more expensive than conventional versions of that products.

However, Environment Commissioner Virginijus Sinkevičius that in the long term, these measures will benefit consumers while also saving the environment.

Speaking to Politico, he said: “We are sometimes asked, will this add to the cost.

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