Government urged to act on Carbon

The first budget of the new Parliment must include a floor price mechanism to underpin the carbon price set by European carbon trading and influential coalition of businesses green groups and individuals has urged.

The call came from Aldergate group in a report that warned the Enviromental deficit posed a greater threat to future Uk prosperity than the finacial deficit.

In the report setting out environmental priorities for the new government, the group also argued that a green investment bank must be established as soon as possible alongside a commitment that 20 per cent of UK's tax revenue should come from enviromntal taxes by 2020.

Other initiatives highlighted as a priority for the new administration were:

  • Simplified company reports regulations on carbon emissions and resource usage
  • Clearer incentives for low carbon industries, including specific targets for job creation
  • publication of national energy efficiency plan.