Renewable Energy: VAT
The question
To ask the Chancellor of the Exchequer, if she will make an estimate of the potential impact of changes in the cost of (a) electricity, (b) goods and (c) services arising from (i) direct and (ii) indirect support to renewable energy on VAT receipts in each year since 2002.
Answered by James Murray
The Government is committed to tackling climate change. The Climate Change Act (2008) made the UK the first country to introduce a legally binding, long-term emissions reduction target. Since then, the UK has halved its emissions, having cut them by around 53% between 1990 and 2023.
The Government has announced a national mission to make Britain a clean energy superpower and accelerate our journey to net zero.
As the Government's official independent forecaster, it is for the OBR to consider and report on the fiscal and economic impacts of Government policy decisions made by the Government.
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