Environmental and economic impact of British energy policy

By Letters In December, David Cameron joined 195 other leaders to promise ambitious action on climate change. Achieving the Paris goals requires leaving most of the world’s fossil fuel reserves in the ground. A first step must be to stop subsidising fossil fuel production. Wednesday’s budget is an acid test of the government’s Paris commitment. In last year’s budget, the chancellor gave £1.3bn in new tax breaks and direct funding to the oil industry. The UK Treasury receives a smaller share of oil revenues than most other comparable countries. Meanwhile, the government has exempted a whole new fossil-fuel industry – fracking –

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