Carbon Emissions

(asked on 17th October 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate she has made of the cost to the public purse of achieving net zero carbon emissions by 2050 in each year between 2020 and 2050.


Answered by
Kwasi Kwarteng Portrait
Kwasi Kwarteng
This question was answered on 24th October 2019

The Committee on Climate Change has not provided the Department with an estimate of the costs in each year from 2020 to 2050 for delivering the UK’s net zero target.

Costs are inevitably uncertain between 2020 and 2049 but the CCC estimate that the costs of delivering the net zero target will be equivalent to 1-2% of GDP in 2050. We will publish further detail in the impact assessment for the sixth carbon budget and for all policies which we take forward to deliver the net zero target.

In addition, HM Treasury are carrying out a review into the costs of transitioning to a net zero economy, as recommended by the CCC. The review will consider how to pay for this and how to achieve the transition in a way that works for households, businesses and public finances, as well as how we can ensure this is compatible with plans for a thriving and competitive economy.

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