The truth they don’t want us to know!
By Paul Homewood
Following last week’s budget, the Office for Budget Responsibility has published its Economic & Fiscal Outlook Tables, ie the detailed forecasts and assumptions for the economy and the public finances.
Under the heading Environmental Levies, we can see the ongoing cost of meeting climate targets. For the coming financial year, this is expected to be a whopping £7.4 billion, approximately £280 per household.
Apart from the Carbon Reduction Commitment, all the above costs are added to energy bills.
Even this figure does not include everything. As the above table indicates, the RHI costs an extra £0.6 billion, which is funded by taxation.
Then we have the Climate Change Levy and Air Passenger, which earn the Exchequer £1.2 billion and £3.2 billion respectively.
Looking ahead to 2020/21, Environmental Levies are slightly less than the £13.6 billion predicted last year. However, this is based on what seems the…
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