Budget announcement ‘must unveil £33bn of new spending to put UK on path to net zero by 2050’

Policy thinktank IPPR stresses significantly more investment is needed in public transport, low carbon housing and the restoration of nature

The government's upcoming Budget announcement must unveil £33 billion of new funding a year to put the UK on a pathway to net zero by 2050.

That's the suggestion from policy thinktank IPPR, which stresses significantly more investment is needed in public transport, low carbon housing and the restoration of nature - Ed Miliband and Caroline Lucas, two chairs of the cross-party IPPR Environmental Justice Commission, say it must be the ‘first budget for climate and nature’.

They suggest around £12 billion of the additional annual investment would need to be in low carbon transport and around £10 billion in low carbon buildings.

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