Green shoots

22 April 2009 By Mike Prest

The government s £1.4bn green budget is meant to help reduce carbon emissions and create a low carbon economy. Taxpayer money may have been better spent giving indirect support to existing hightech industries that are less speculative.

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The UK budget on April 22 set out an extra £1.4bn of targeted support for the lowcarbon sector. The government said that together with measures announced last autumn, an extra £10.4bn wiil be available for the sector over the next three years.

The measures included £375m for energy saving in buildings, £525m for offshore wind projects, £405m for lowcarbon industries (including nuclear), exempting combined heat and power projects from the climate levy, and a new funding mechanism for up to four carbon capture and storage demonstration projects and research.

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