From George Osborne’s Budget speech:
Renewable energy will play a crucial part in Britain’s energy mix – but I will always be alert to the costs we are asking families and businesses to bear.
Environmentally sustainable has to be fiscally sustainable too.
The Carbon Reduction Commitment was established by the previous Government.
It is cumbersome, bureaucratic and imposes unnecessary cost on business.
So we will seek major savings in the administrative cost of the Commitment for business.
If those cannot be found, I will bring forward proposals this autumn to replace the revenues with an alternative environmental tax.
Gas is cheap, has much less carbon than coal and will be the largest single source of our electricity in the coming years.
And so my RHF the Energy Secretary will set out our new gas generation strategy in the autumn to secure investment.
I also want…
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