The Climate Change Committee has unveiled its latest carbon budget as part of the government’s drive toward Net Zero. Unsurprisingly, it comes with a hefty price tag. The quango estimates that “the net costs of Net Zero will be around 0.2% of GDP a year on average” until 2050—amounting to roughly £5 billion annually over the next 25 years. That’s the same figure as Starmer’s planned defence spending increase…
The CCC’s recommendations include:
Governments have historically followed the CCC’s five-year carbon budgets as required under the Climate Change Act. Translation: higher bills and extra costs for households, and the economy. Meanwhile, Starmer faces scrutiny over whether his defence spending sums actually add up. The IFS has pointed out that cutting foreign aid by 0.2% would cover less than half of what he needs. If Starmer is serious about hitting 3% of GDP on defence in the next Parliament, he should start by slashing Net Zero pledges next…
Lord Khan in the Telegraph: “I hope, and I say this in a non-pompous way, that the public service I do will bring rewards in this world and the hereafter,” he says. “I’m hoping the work I do is earning me Brownie points.”