Taxes will need to rise to pay for the green revolution which is necessary to save the planet from global warming, MPs warn today.
In a report on the impact of the recession on attempts to transform the UK into a low-carbon economy, an influential Commons committee reveals that levels of green taxes are now falling while overall tax revenues increase.
And the MPs on the Environmental Audit Committee warn that without tax rises or radical cuts in public spending elsewhere, the Government will not be able to afford to continue the “green stimulus package” announced in the pre-Budget report in November.
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Last week, the world’s leading climate change scientists, gathered in Copenhagen, issued a desperate plea to politicians to take urgent action on climate change or risk catastrophic global warming.
But in their report, the MPs expose the timidity of the Government’s response to the crisis, revealing that the Â£535 million package for low carbon measures announced in the PBR was made up of money brought forward from future budgets.
- A d v e r t i s e m e n t
That means that the Government will either have to cut spending or raise taxes to pay for future measures to “green” the economic recovery.