Budget 2009: Green investment

Wednesday, 22 April 2009 12:00 AM

By politics.co.uk staff

A number of green measures and green investment announcements were made by the chancellor in his Budget today which he said will help bring Britain out of the recession.

The UK will be committed to cut its carbon emissions by 34 per cent by 2020 through investment in new technologies, cleaner transport and more energy efficient homes.

The chancellor pledged £1 billion towards low-carbon industries which he said would not only help tackle climate change but would also create a new technology industry in Britain, promoting jobs for highly-skilled workers.

There was a commitment to provide £525 million over the next two years to develop offshore wind farms along with £435 million for the construction of energy efficient homes.

He also announced £100 million worth of investment for local councils to help them invest in energy efficient social housing.

There will also be a £405 million investment to encourage low-carbon energy and advanced green manufacturing.

As expected, the chancellor announced his £2,000 car scrappage scheme which will applies to vehicles over ten years old as part of a payment on a new, cleaner car.

The chancellor said that investment in new, low-carbon technologies would not only help Britain achieve its environmental targets but would also lead to growth through new industries and technologies.

He added that by providing investment he would be creating highly-skilled workers and high-paid jobs.

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