By Paul Homewood
The cost of reaching the government’s “Net Zero” target will be astronomical for the UK economy. That’s according to analysis by two new reports published by the Global Warming Policy Foundation.
The reports find that decarbonising the electricity system and domestic housing in the next three decades will cost over £2.3 trillion pounds. The final bill will surpass £3 trillion, or £100,000 per household, once the cost of decarbonising major emitting sectors like manufacturing, transport and agriculture are included.
This is the equivalent of a £100 billion HS2 project every single year.
According to the Committee on Climate Change (CCC) the costs for Net Zero in 2050 are ‘manageable’: “…we estimate an increased annual resource cost to the UK economy from reaching a net-zero [greenhouse gas] target that will rise to around 1–2% of GDP by 2050.”
Yet, the CCC has resisted attempts to have its calculations…
View original post 273 more words
Climate Collections 