Every household in Britain will have to pay at least £100 a year more for energy within the next two decades if the Government is to meet its promises to tackle climate change, say a Confederation of British Industry task force.. Daily Telegraph, Independent, Times.
The report, by a group of senior executives from RollsRoyce, Tesco, Barclays and BT demands 'a much greater sense of urgency' from the Government.
The task force calls for the cost of emitting a ton of carbon dioxide to rise by 2020 to up to four times what it currently trades at on the European market.
It also calls for changes in council tax and business rates to reward greener behaviour, and for the Government to fund research and development of energy-saving technologies until they become commercially competitive.
The CBI has thrown its weight behind a proposal to slash stamp duty for homeowners who invest in making their properties more energy-efficient, as a means of tackling climate change.
If the report is accepted by the CBI, it will represent a radical U-turn from the organisation’s previous view that a high carbon price would damage the competitiveness of the British economy.
The CBI task force concludes instead that Britain has “a unique opportunity to prosper in key markets of the future” by taking a lead in new technologies.