An MP has demanded answers as to the financial cost to the UK of net zero and its impact on global temperatures.
Shipley MP Philip Davies believes government’s commitment to reduce carbon emissions to zero will make little difference given the UK produces less than one per cent of total global emissions.
Instead, he fears all it will achieve is pushing up taxes and energy bills.
Speaking in Parliament Mr Davies said: “Can the Secretary of State tell the House what his very latest assessment is of the full financial cost of the United Kingdom of reaching net zero and if the UK were to reach net zero, can he tell us what assessment is made of the difference that would make to global temperatures?”
The question comes as figures from The Office for Budget Responsibility estimate that it will cost £1.4 trillion for the UK to reach zero emissions by 2050.
Energy Minister Graham Stuart said: “We estimate that the net cost, excluding air quality and emissions saving benefits will be equivalent of around one to two per cent of GDP in 2050, and of course as he knows, the emissions are global and we all need to play our part so the UK has a part to play in tandem with others and that’s why I will be working with other ministers at COP in Dubai.”
Mr Davies said the UK’s attempt was futile given countries like China, India and emerging economies in Africa are going to be increasing their carbon emissions each year by more than the entire total of the UK. China currently is responsible for 29 per cent of emissions, more than the UK, EU and US combined.
Referencing the cost, Mr Davies added: “This is money the country and many of my constituents can ill afford; especially when the actions of other countries will make it utterly futile.”