• Contact
  • About
DONATE
NEWSLETTER SIGN UP
  • Login
North East Bylines
  • Home
  • News
  • Culture
  • Lifestyle
  • Business
  • Region
  • Opinion
AUDIO
No Result
View All Result
  • Home
  • News
  • Culture
  • Lifestyle
  • Business
  • Region
  • Opinion
No Result
View All Result
North East Bylines
Home News Environment

Government loses sight of climate crisis as energy windfall tax encourages rise in fossil fuel investment

Molly Scott-Cato Professor of Economics at the University of Roehampton and former Green MEP comments on yesterday's announcement and its impact on the green agenda.

North East BylinesbyNorth East Bylines
27-05-2022 11:00
in Environment
Reading Time: 2 mins
A A
Molly Scott-Cato

"Molly Scott Cato in Bristol" by Bristol Green Party is marked with CC0 1.0.

Share on FacebookShare on Twitter

Following the Chancellor’s announcement of a windfall tax on oil and gas companies to tackle the cost of living crisis, Molly Scott Cato, Professor of Economics at the University of Roehampton and former Green MEP, argues that the 90% tax relief for the same companies will encourage greater fossil fuel investment at a time when the UK should be doubling down on renewable energy:

Molly says:

“While the 25% windfall tax on oil and gas companies is welcome, the 90% tax relief announced for the same companies will incentivise them to continue pumping resources into fossil fuels rather than embracing renewable projects and R&D developments tilted towards the sustainability transition.

“To insulate ourselves from further global energy shocks like that caused by the war in Ukraine, the UK must focus on making the most of our abundant renewable energy resources. For example, onshore and offshore wind and solar power are the cheapest forms of electricity generation[1], and, most importantly, are the ones that will provide domestic energy security. The government should prioritise this and incentive businesses to pursue renewable energy investment rather than fossil fuels, as well as putting more resources into encouraging home insulation across the UK.

She adds:

“As serious as they are, the war in Ukraine and Covid-19 are short-term issues. The Chancellor must not lose sight of the greatest crisis we are facing: the climate change crisis. Ultimately, today’s announcement signals the Government’s inconsistent and disappointing approach to meeting its net zero commitments and targets despite its pledges at COP26.”

Previous Post

Cost of living crisis: a fundamental rethink is needed to support families in the North East

Next Post

A Way Home: the true story of Durham’s category ‘D’ villages brought to life in new play

North East Bylines

North East Bylines

Related Posts

global warming
Education

Climate education must extend beyond the classroom’s walls

byMeryl Batchelder
December 3, 2023
Thousands of dead and dying crustaceans were found along Teesside’s coastlines last year. FlorianKunde/Shutterstock
Environment

Crustacean die-off report: more questions than answers

byNorth East Bylines
November 30, 2023 - Updated On December 1, 2023
COP28 Trees
Environment

What can we expect from COP28?

byNeil Taylor
November 30, 2023
Rat poison and wildlife traps found near popular Nature reserve
Environment

Rat poison and wildlife traps found near popular nature reserve

byJenny Robbinsand1 others
November 16, 2023
Kingfisher - River Skerne
Environment

Skerningham Garden Village: the threatened birds in pictures

byJulia Mazzaand1 others
November 15, 2023
Next Post
A way home promo photo

A Way Home: the true story of Durham's category 'D' villages brought to life in new play

PLEASE SUPPORT OUR CROWDFUNDER

Subscribe to our newsletters
CHOOSE YOUR NEWS
Follow us on social media
CHOOSE YOUR PLATFORMS
Download our app
ALL OF BYLINES IN ONE PLACE
Subscribe to our gazette
CONTRIBUTE TO OUR SUSTAINABILITY
Make a monthly or one-off donation
DONATE NOW
Help us with our hosting costs
SIGN UP TO SITEGROUND
We are always looking for citizen journalists
WRITE FOR US
Volunteer as an editor, in a technical role, or on social media
VOLUNTEER FOR US
Something else?
GET IN TOUCH
Previous slide
Next slide

LATEST

Margaret Thatcher

Keir Starmer’s praise of Margaret Thatcher

December 4, 2023
Transpennine train

Government announces £3.9bn Transpennine rail improvements

December 4, 2023
child's eyes

New data reveals 1 in 8 North East children now hit by ‘cruel’ two-child limit

December 4, 2023
Germany on the map of the world

German Journeys Part 11: The Goethe Institute

December 3, 2023
Keir Starmer

Starmer’s message

December 3, 2023
global warming

Climate education must extend beyond the classroom’s walls

December 3, 2023

MOST READ

Nestle Fawdon

New buyer for Fawdon Nestlé chocolate site

November 28, 2023
David Lammy

Lammy’s mood music – sidestepping towards Rejoin?

December 2, 2023
Polling station

Proportional Representation vs First Past the Post

November 6, 2022 - Updated On May 23, 2023
Brexit and EU signs

Job seekers sanctions, mobility, and migration: the effect of Brexit

November 30, 2023

BROWSE BY TAGS

Audio Beach Brexit Business castle leazes climate activism Co. Durham comedy cost of living crisis Culture defra democracy ducklings Economy Education Environment fire and rescue firefighter Food & Drink food poverty hardwick festival Health Health & Care Home Affairs just stop oil Lifestyle Local Lockdown Northumberland Peace peoples theatre Performance Politics pride month refugee rescue Science Teesside the good life TV & Radio Tynemouth Tyneside Ukraine volunteer Wearside

We are a not-for-profit citizen journalism publication. Our aim is to publish well-written, fact-based articles and opinion pieces on subjects that are of interest to people in the North East and beyond.

North East Bylines is a trading brand of Bylines Network Limited, which is a partner organisation to Byline Times.

Learn more about us

No Result
View All Result
  • About
  • Authors
  • Complaints
  • Contact
  • Donate
  • Letters
  • Privacy
  • Network Map
  • Network RSS Feeds
  • Submission Guidelines

© 2023 North East Bylines. Powerful Citizen Journalism

No Result
View All Result
  • Home
  • News
    • Brexit
    • Education
    • Environment
    • UK News
    • Transport
    • World News
  • Politics
  • Opinion
  • Lifestyle
    • Culture
    • Music
    • Poetry
  • Business
    • Economy
    • Technology
    • Trade
  • Donate
  • Newsletter sign up
  • Boriiis Cartoons
  • Authors
  • Audio
CROWDFUNDER

© 2023 North East Bylines. Powerful Citizen Journalism

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In