Net zero targets ‘may mean higher taxes’

The UK is making good progress toward its goal of having net zero carbon emissions by 2050, but it may need to raise taxes to reach that goal.

Lord Nicholas Stern, a well-known economist, says that the government and private sector must as a a matter of urgency invest in new technologies.

A former boss of oil giant BP also says that the UK should follow the US in promoting green technology.

But the government said that the UK is “leading the way as far as climate change and net zero carbon emissions is concerned.”

Lord Stern told the BBC, “We need growth, and we need to cut down on emissions, and we’ll get there by investing in new technologies.”

He also said, “I’m not saying that investments in health and education should be put off. On the contrary, we must work on both of them at the same time.

His words come when the country is struggling with a high cost of living and taxes are higher than they have been since the Second World War.

Tax cuts are also something that some people want the government to do.

On the other hand, Lord Stern says that more public investment could be good for jobs and the environment…Read More

Source — San Francisco Post