The difficulty of forecasting the costs of decarbonisation has dominated the Treasury’s Net Zero Review, carrying on a theme from the interim review, published last year.
Despite growing calls from the energy sector and beyond, the Treasury looks set to reject the removal of VAT on green products such as heat pumps and solar.
The Public Accounts Committee (PAC) has criticised a “lack of leadership and coordination” from HMRC and the Treasury in targeting environmental action.
Current± spoke to companies, groups and charities operating in the energy and environmental space to gauge their reactions to the fabled red briefcase.
Net zero will require £33 billion of extra spending per year until 2050, according to new analysis from thinktank IPPR's Environmental Justice Commission.
The Committee on Climate Change (CCC) has issued a call to HM Treasury to ensure the costs of reaching net zero are distributed evenly, revealing it will publish its advice on the sixth carbon budget earlier than expected.
Calculations made by HM Treasury of the cost of net zero have been labelled “slightly disturbing” by former leader of the Labour Party and co-chair of IPPR’s Environmental Justice Commission, Ed Miliband.
