David Cameron may now view climate change as a serious threat, thanks to the winter floods, but you wouldn’t know it from his Chancellor’s Budget statement on Wednesday. What did the Budget do for green growth and the low-carbon agenda? –
- Froze the carbon price floor (paid by large emitters) until the end of the decade. Introduced just last year at £16/tonne carbon dioxide, it was supposed to increase steadily to reach £30 in 2020 and £70 in 2030; now it’ll stick at £18. This makes coal more attractive and low-carbon energy less.
- Ended Enterprise Investment Scheme tax breaks for investments in renewable electricity and heat (while retaining them for everything else).
- Extended compensation for energy-intensive industries from the electricity bill levies funding renewable energy.





























