George Osborne has set out a series of measures that could be introduced in next week’s Budget and would bring about a green technology revolution in Britain.
The Shadow Chancellor stressed, “The Budget is not just an opportunity to help people now; it’s also a chance to chart a new course for the future.”
And he outlined a series of policies to “kick-start a green recovery” built on new technologies developed and manufactured in Britain:
- A £6,500 energy efficient entitlement for every home in Britain
- Funding at least three carbon capture and storage pilots
- The introduction of feed-in tariffs and smart meters to encourage homes to microgenerate using wind turbines and solar power
- A national recharging network for electric vehicles
- Beginning work on a new high-speed rail network
- Investing in the creation of an electricity internet
- Providing government loan guarantees to companies investing in green technologies
- Creating the world’s first environmental trading market
- Introducing a network of Marine Energy Parks
- Building an offshore DC cable network
George stressed our plan “could transform Britain”:
“It would unleash £30 billion of new private sector investment, without adding a penny to the national debt. It would lay the path to a greener future. And it would help build a future economy where we save and invest for tomorrow instead of borrow and spend for today.”
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