Liam Halligan on the eye watering costs of Net Zero policies…

Reaching the 2050 target has enormous cost implications not only for households and firms, but also the government. Between now and mid-century, subsidies and other “green investment” will add 21 percentage points to the UK’s national debt-to-GDP ratio, according to a recent Office for Budget Responsibility Report. In today’s money, that’s equivalent to £500 billion. These are vast costs and, as long as “Net Zero 2050” remains in place, the process of spreading them around will become increasingly politically contentious.