First Budget of the new Parliament

Measures to encourage a low-carbon economy announced

22 June 2010

The Chancellor of the Exchequer the Rt Hon George Osborne MP has issued the Government’s  first budget. Although the emphasis is on measures to reduce Government spending and restructure taxation, measures are outlined that aim to create the conditions for sustainable growth and the low-carbon economy.

The Government intends to create incentives for building a sustainable low-carbon economy. Several new policies are announced, as well as confirmation of a number of measures outlined in the March 2010 Budget.

New announcements include developing proposals to reform the climate change levy, work on new financial products to encourage ‘green investment’, reform of the energy market, and efforts to attract additional private sector infrastructure funding.