UK Budget Risks Slowing the Energy Transition, Green Groups Say
The chancellor’s budget wasn’t the green support campaigners were hoping to see, as the UK will need to step up renewable energy to deliver on climate goals.
Green campaigners say the UK’s new budget missed an opportunity to supercharge the country’s clean energy transition at a time when it desperately needs to decarbonize its electricity and heating infrastructure.
Chancellor Jeremy Hunt on Wednesday announced £20 billion ($24 billion) in funding for carbon capture and storage, as well as support for small modular nuclear reactors and corporate energy efficiency schemes. But the head of Britain’s treasury did not mention any new funding for renewable energy, despite hailing the country’s role as a world leader in offshore wind. His budget also left out any new subsidies for home insulation, which is one way consumers can help reduce energy consumption.