The UK Office for Budget Responsibility (OBR) has released new estimates on the financial impact of the country's transition to net zero emissions by 2050. The OBR projects the total cost of achieving net zero will amount to £803 billion by 2050. Despite this substantial figure, the OBR also indicated that the cost of transitioning to net zero is now considered cheaper than previously thought. Furthermore, the OBR warned that unchecked global warming is expected to cause greater economic damage to the UK. These findings confirm earlier claims that net zero policies could cost taxpayers around £30 billion annually. The debate over the economic implications of net zero continues, with some political voices advocating for scrapping net zero targets to save taxpayer money.
The Office for Budget Responsibility today said that climate change is on course to damage the UK economy more than previously thought, but that moving to net zero is now cheaper than ever. https://t.co/el0TqznDlm
Over 1 yr ago I said Net Stupid Zero costing £30 bn pa to taxpayer Govt said pompously “we don’t recognise that figure” Now OBR below confirming Tice is right. Literally bang on the money Only @reformparty_uk will scrap Net Zero and save £30bn pa https://t.co/nGptddKwi0
The Boriswave will cost the taxpayer millions if not reversed. https://t.co/bkTDHiNdvZ