Following Rachel Reeves' Autumn budget announcement today in the House of Commons, Mike Peirce, Executive Director of Systems Change at Climate Group said:
"The Chancellor's early reference to ‘invest, invest, invest’ should be followed by ‘net zero'. The budget could have been far more ambitious, for example by reducing VAT on electric cars. Instead, fuel duty remains the same and the oil and gas levy only rises slightly, with limited impact.
We welcome the Warm Homes Scheme to boost energy efficiency of hundreds of thousands of homes and the investment in GB Energy, but it's disappointing to see CCS as the flagship of their strategy. We should not rely on technology that is not proven at scale and that locks in fossil fuel technology for years to come. If the Government wants the UK to become a 'clean energy super power', it should lead in wind, solar, and tidal energy."
On the fuel duty freeze:
''The Chancellor’s decision to continue the fuel duty freeze while not reducing the VAT on EVs is a major missed opportunity to push forward the UK’s transition into a zero-emission transport future and clean air for all. Changes to the first-year tax rates that slightly favour EVs over internal combustion engine (ICE) cars are welcome, but not nearly bold enough to incentivise the mass uptake of EVs we need.'' - Mike Peirce, Executive Director of Systems Change at Climate Group
On the oil and gas levy:
‘’We welcome the retention of the planned rise in the oil and gas levy to 38%. Fossil fuel companies have demonstrated that they are singularly incapable of investing their obscene profits in future technology, instead opting to invest in maintaining the status quo. The retention of the windfall tax will ensure revenues are used for the public good.’’ - Sam Kimmins, Director of Energy at Climate Group
About Climate Group
Climate Group is an international non-profit, launched in 2004, with offices in London, Amsterdam, Beijing, New Delhi, and New York. Our mission is to drive climate action, fast. We do this by forming powerful networks of business and government, unlocking the power of collective action and scale to move whole systems such as energy (RE100 and EP100), transport (EV100), industry (SteelZero and ConcreteZero), and food. Together, we’re helping to shift global markets and policies towards faster reductions in carbon emissions. We work with over 600 international businesses, including more than 345 operating and headquartered in the UK.
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