23 April
2009 Yesterday’s Budget announcement saw Chancellor Alistair Darling pledge over £1.4 billion of extra funding for the low-carbon sector to help tackle climate change – good news in a year overshadowed by a gloomy financial outlook, and showing that the government sees this as one of the growth areas in the economy.
Summary of key announcements:
• A ‘legally binding’ target for Britain to cut greenhouse gas emissions by 34% by 2020 (in line with the recommendation of the Committee on Climate Change)
• £525 million to fund offshore wind power generation projects
• £405 million to encourage low-carbon businesses and advanced green manufacturing
• £375 million to support energy and resource efficiency in businesses, public buildings and households
• £100m for improving insulation in social housing schemes
• £90 million for research into capture and storage of carbon from fossil fuel power plants
• An increase in fuel duty of 2p per litre on 1st September 2009, and of 1 penny per litre each year from 2010 to 2013
• A £2,000 for owners of cars more than ten years old to scrap their old motors – both to kick start the UK’s car industry and encourage the purchase of more fuel efficient vehicles
Links:
• http://budget.treasury.gov.uk/building_a_low_carbon_recovery.htm
• http://downloads.bbc.co.uk/news/nol/shared/bsp/hi/pdfs/22_04_09bud09_chapter7_193.pdf
