Osborne's Budget Criticized for Neglecting Climate Change Goals
- Chancellor lowers taxes on North Sea oil and gas industry
- Budget described as `climate-wrecking' by Green Party lawmaker
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U.K. Chancellor of the Exchequer George Osborne’s statement on Wednesday that his new budget “puts the next generation first” isn’t enough to protect subsequent generations from the consequences of climate change, critics said.
Just three months after the U.K. joined 195 other countries in a climate deal in a bid to restrain rising global temperatures by curbing emissions, Osborne’s budget cut taxes on the oil and gas industry and preserved a freeze on fuel taxes for motorists. He also scrapped a carbon tax for businesses like Tesco Plc and raised a climate change levy that applies to electricity from renewables as well as from fossil fuels.