Boris has ‘No Idea’ How Much Net-Zero Green Agenda Will Cost
Prime Minister Boris Johnson’s government has “no reliable” idea on how much his 'Build Back Better' green agenda will cost taxpayer and consumers, the House of Commons Public Accounts Committee said.
According to the report from the committee of MPs, the government has not levelled with the public about how much the radical green agenda will cost and does not even have a clear picture of the costs themselves. On top of the commitment to reach net-zero by the year 2050, the government has also committed to phasing out combustion engine cars and gas-powered boilers by 2030.
“The government has unveiled a plan without answers to the key questions of how it will fund the transition to net zero, including how it will deliver policy on and replace income from taxes such as fuel duty, or even a general direction of travel on levies and taxation,” the Public Accounts Committee stated.
The report went on to state that the government has “no reliable estimate” of what the actual implementation of the net-zero policies will “cost British consumers, households, businesses and government itself.”
The committee claimed that the witness who testified on behalf of the Treasury Department was “reluctant” to give a firm estimate as the Climate Change Committee’s estimates are likely riddled with “errors potentially compounding over very long periods.”
Therefore the report concluded that the “government is relying heavily on rapidly changing consumer behaviours together with technological innovations driving down the costs of green options but it is not clear how it will support and encourage consumers to purchase greener products.”
The Public Accounts Committee went on to note the importance of providing clear estimates for such an expansive government plan, in order for businesses and consumers to plan accordingly.
“Government has too often pursued stop-start strategies which undermine confidence for business, investors and consumers in committing to measures which would reduce carbon emissions, especially when some green alternatives are still significantly more expensive than current options,” they added.