Politics

Philip Hammond branded misleading by Downing Street in bust-up over slashing greenhouse gas emissions


PHILIP Hammond was branded misleading by Downing Street yesterday in an extraordinary bust-up over slashing emissions to “net zero” by 2050.

The PM’s official spokeswoman said the Chancellor’s incendiary warning that committing to the target would cost “in excess of £1 trillion” was wrong.

 Philip Hammond has been branded misleading for comments he made regarding the cost of a zero-carbon economy

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Philip Hammond has been branded misleading for comments he made regarding the cost of a zero-carbon economyCredit: AFP or licensors

And she said the doom and gloom estimate was completely ignoring the benefits of cutting emissions – and any new technologies.
She said: “The costs related to meeting this target are whole of economy costs not a fiscal cost – so it’s not really right to frame it as a trade-off for public spending. I think that’s important to set out.”

It marks an astonishing final falling out between Mrs May and the Chancellor.

Mr Hammond made his warning in a letter to the PM that leaked yesterday morning.

Mrs May and Business Secretary Greg Clark were expected to commit the UK to legislating to go ‘net zero’ carbon emissions by 2050 on June 11.

But aides last night admitted that may be pushed back because of the row.

FINAL FALLING OUT

The Chancellor said the total cost could top £1 trillion.

And he warned the target would cost millions of homeowners “tens of thousands” as they have to insulate their homes – reducing living space.

He added Brits would have to replace gas boilers and hobs with pricier eco-friendly kit that “may not work”.

In the letter, Mr Hammond said any legislation should be delayed until the Treasury can gauge how to best protect consumers and industry from the huge cost.

He wrote: “It is essential that the Government fully considers the implications of adopting a more ambitious target before setting it in law.”

He adds: “The total cost of transitioning to a zero-carbon economy is likely to be well in excess of a trillion pounds.

“While these costs are extremely significant they fail to describe the impacts on different sectors of the economy, as well as the profound implications for households, businesses and the Exchequer.”

The CCC’s advice last month indicated that achieving net zero would fall within existing spending plans

All leading Tory leadership contenders last night said they would commit to the new target if they became PM – including arch Brexiteer Dominic Raab.

A Committee on Climate Change (CCC) urged Ministers last month to back recommendations to cap central heating, ditch the car and fly less in a bid to slash carbon emissions to ‘net zero’ by 2050.

The PM’s official spokesman yesterday declined to comment on the leaked letter. But he said: “The CCC’s advice last month indicated that achieving net zero would fall within existing spending plans.”

The Committee led by Lord Debden demanded Ministers back the plan – and lead the world.

The peer said people should limit thermostats to 19 degrees and be forced to buy electric cars from 2030 – ten years ahead of current Government plans.

He added that Brits should slash the amount of beef, lamb and diary they eat by at least a fifth.

TECH RAP FROM PHIL

PHILIP Hammond will today demand G20 world leaders join his crusade to force tax-dodging tech giants to cough up more.

The so-called Google tax will slap a levy on the revenues they rake in, regardless of where they stash their profits.

The Chancellor said: “I will reaffirm the need for global reform of the international corporate tax framework.”

Phillip Hammond urges new potential Conservative leader candidates to compromise when dealing with the EU on The Andrew Marr Show



 





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