Economic growth and carbon targets at risk from government cuts

The government runs the risk of jeopardising long-term economic growth and missing its climate targets if it withdraws vital funding from low-carbon technology research and development, warns a new report.

Building a low-carbon economy – the UK’s innovation challenge has been published by a panel of top scientists at the Committee for Climate Change (CCC), formed last year to advise the government on its carbon budgets.

The report warns that “without government support, a range of essential low-carbon technologies are likely to get stuck in a ‘valley of death’… and will fail to make it to market.”

The Committee concludes that any reduction in current funding levels (which it estimates at £550m per year) would increase the risk of missing carbon budgets and would see the UK losing out on critical opportunities to build a green economy.

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