Change the eConomY | BUILd A gREENER ECONOMY
build a greener economy We will reduce Uk greenhouse gas emissions and increase our share of global markets for low carbon technologies. Labour have said the right things on climate change, but these have proved little more than warm words. Despite three White Papers, a multitude of strategies and endless new announcements, the UK now gets more of its energy from fossil fuels than it did in 1997. our performance on emissions has been criticised by environmental groups and we have the worst record of any major eU nation when it comes to renewable energy. this must change to safeguard britain and the world’s future.
green individual Savings accounts to help provide the financial backing we need to create a low carbon economy. a credible and sustainable price for carbon is vital if we are to see adequate and timely investment in new electricity generation. Whatever the carbon content of electricity generated, operators considering new investments in projects with a life of several decades need to know where they stand. We will reform the Climate Change Levy to provide a floor price for carbon, delivering the right climate for investment in low carbon energy production.
We need to cut our carbon emissions to tackle the challenge of climate change. but the low carbon economy also provides exciting opportunities for british businesses. We will encourage private sector investment to put britain at the forefront of the green technology revolution, creating jobs and new businesses across the country.
We will increase the proportion of tax revenues accounted for by environmental taxes, ensuring that any additional revenues from new green taxes that are principally designed as an environmental measure to change behaviour are used to reduce the burden of taxation elsewhere.
Create a low carbon future this wave of low carbon innovation we want to unleash requires investment, so we will create Britain’s first Green Investment Bank – which will draw together money currently divided across existing government initiatives, leveraging private sector capital to finance new green technology start-ups. We will create
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