| Government announces £1.4 billion of funding for the low-carbon sector | Budget |
| 23 April 2009 | |
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Yesterday’s Budget announcement saw Chancellor Alistair Darling pledge over £1.4 billion of extra funding for the low-carbon sector to help tackle climate change – good news in a year overshadowed by a gloomy financial outlook, and showing that the government sees this as one of the growth areas in the economy. Summary of key announcements: • A ‘legally binding’ target for Britain to cut greenhouse gas emissions by 34% by 2020 (in line with the recommendation of the Committee on Climate Change) • £525 million to fund offshore wind power generation projects • £405 million to encourage low-carbon businesses and advanced green manufacturing • £375 million to support energy and resource efficiency in businesses, public buildings and households • £100m for improving insulation in social housing schemes • £90 million for research into capture and storage of carbon from fossil fuel power plants • An increase in fuel duty of 2p per litre on 1st September 2009, and of 1 penny per litre each year from 2010 to 2013 • A £2,000 for owners of cars more than ten years old to scrap their old motors – both to kick start the UK’s car industry and encourage the purchase of more fuel efficient vehicles Links: • http://budget.treasury.gov.uk/building_a_low_carbon_recovery.htm • http://downloads.bbc.co.uk/news/nol/shared/bsp/hi/pdfs/22_04_09bud09_chapter7_193.pdf -Ends- Notes to Editors For further press information, please contact Ruth Harman or Laura Mashiter at Tangerine PR on 0161 817 6600. Alternatively, email ruth.harman@tangerinepr.com or laura.m@tangerinepr.com. |
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| Download Budget summary - 23 April 09.doc | |
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