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Taxes must rise to pay for climate change, MPs warn http://apocadocs.com/s.pl?1237230676
But in their report, the MPs expose the timidity of the Government's response to the crisis, revealing that the £535 million package for low carbon measures announced in the PBR was made up of money brought forward from future budgets.
That means that the Government will either have to cut spending or raise taxes to pay for future measures to "green" the economic recovery.
Tim Yeo, chairman of the committee, said: "The Treasury has announced very little new money for green investments.
"Yet meeting our climate change targets will require a step-change in funding for the low carbon energy sector, especially when the financial crisis has led to a shortage of capital."
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[Read more stories about:
climate impacts, low-energy future]
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New!:
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Your Quips:
Chuck says: "That's it -- forget Nature. Read my lips: No New Taxes (or future)"
HarryP says: "Yeah, I'm afraid that the "economy" is gonna trump "science" or even "sanity.""
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'Doc Jim says:
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It's called "paying it backward."
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We've been borrowing on our future for a long time, without paying the vigg. Now the loanshark "Nature" is calling it in.
Yep, she'll break our thumbs if we don't pay up -- and then our sternum, and if we still don't pay it... our necks.
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