U.K. Delays Harsh Green Policies That Add To High Inflation And Slow Growth
U.K. Prime Minister Rishi Sunak has said he would spare the public from the “unacceptable costs” of net zero as he scaled back a string of flagship environmental policies.
In the last few weeks, a number of economic analyses indicated that the radical green policies that discourage investment in LNG gas infrastructure and impose new industrial regulations are crucial factors of the high persistent inflation and low economic growth.
Mr Sunak delayed the ban on new petrol car sales from 2030 to 2035, pushed back the ban on new oil boiler sales from 2026 to 2035, and increased heat pump grants to £7,500.
He also promised not to introduce new taxes to discourage eating meat or flying, ruled out orders for drivers to car-share, and scrapped plans for households to use up to seven bins for recycling.
British Prime Minister said: “Yes, net zero is going to be hard and will require us to change. But in a democracy, we must also be able to scrutinise and debate those changes, many of which are hidden in plain sight – in a realistic manner.”