Britain's Commitment to a Low-Carbon Economy Survives Budget Cuts
The British government today outlined
a program of deep and wide-ranging budget cuts across every
department, including those dealing with energy and climate change,
environment, transport and business and
innovation.
But the government’s commitment to becoming a
world-leading low carbon economy remains intact.
The
target=”_blank” title=”NDS”>Spending
Review unveiled by Chancellor George
Osborne involved major reductions in administrative budgets for all
departments, but increased capital spending for environment and
energy-related programs linked to ifs low-carbon economy
commitments.
class=”MsoNormal”>Up to £1 billion will be allocated
to create one of the world’s first commercial-scale carbon capture
and storage demonstration plants, and a £860
million Renewable Heat Incentive will be introduced from 2011-12
aimed at achieving a more-than-tenfold increase of renewable heat
over the coming decade.
A further £200 million will be allocated for low-carbon
technologies, including offshore wind technology and manufacturing
infrastructure at port sites. The government’s Feed-In Tariffs
(FITs) program will be refocused toward more cost-effective
technologies with the goal of saving £40 million by
2014-15.
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class=”MsoNormal”>Spending on science research will be
maintained and further £250 million per year will be allocated for
adult apprenticeships to create an additional 75,000 apprenticeship
places every year, with particular focus on skills training for new
clean technology jobs.
class=”MsoNormal”>
class=”MsoNormal”>On the public utilities side, over
£10 billion in funding will be made available for national and
local road networks, and public transport schemes, and in Britain’s
major cities charging infrastructure for electric vehicles will be
provided along with an incentive of up to £5000 for the purchase of
ultra-low carbon cars.
class=”MsoNormal”>
class=”MsoNormal”>The government has set aside
£1 billion for a new Green Investment Bank,
considerably less than the £4 billion
that industry had said would be required for the bank.
However, Chancellor Osborne said he hoped
much more would be raised for the bank from the private sector and
from the proceeds of future government asset
sales.
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class=”MsoNormal”>Revenue raised from a previously
announced Carbon Reduction Commitment (CRC) Energy Efficiency
Scheme will be used to support the public
finances (including spending on the environment), rather than
recycled to participants..
class=”MsoNormal”>
class=”MsoNormal”>The CRC program which starts
next year, was intended to be a self-financing fund through levies
on energy that were to be recycled to firms that had cut their
energy use.
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class=”MsoNormal”>Dr. John D. Wiebe, President of the
GLOBE Foundation, who was in London when the Spending Review
announcement was made, noted that despite the urgent necessity for
the British government to cut spending, it still sees the enormous
potential of promoting cleantech investment, energy efficiency and
the deployment of renewable energy technologies.
class=”MsoNormal”>
class=”MsoNormal”>“The job creation potential of a
low-carbon economy is something that the GLOBE Foundation has
verified in its recent research in British Columbia,” he said, “and
it is reassuring to see that the U.K. government also sees the
value of investing in a low-carbon future.”
Source: www.greenbang.com
