Steve Baker
Main Page: Steve Baker (Conservative - Wycombe)Department Debates - View all Steve Baker's debates with the HM Treasury
(3 years, 3 months ago)
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Kemi Badenoch
As I said, the report will be published in advance of COP26, but we have published other things that the hon. Member does not seem to have heard of or read. We have set out ambitious plans about the net zero target and published the energy White Paper, the industrial decarbonisation strategy, the transport decarbonisation plan, which has not happened anywhere else in the world—we are the first country to do a transport decarbonisation plan—and a hydrogen strategy. We will publish the heat and building strategy in due course. The Government have been busy setting out plans on net zero, and we would appreciate it if Opposition parties took some time to read them.
Mr Steve Baker (Wycombe) (Con)
The Government’s measures will have important consequences for taxpayers and energy bills. Will my hon. Friend therefore set out in detail the cost of net zero and the calculations behind that cost?
Kemi Badenoch
We will put affordability and fairness at the heart of our reforms to reach net zero. Our latest estimates put the costs of net zero at under 2% of GDP—broadly similar to when we legislated for it two years ago—with scope for costs of low-carbon technologies to fall faster than expected. Most of those represent increased investment in growth markets of the future. However, I take my hon. Friend’s point. All I would say is that he should wait until the net zero review is published.