Climate Change Bill to cost £10k per household

The government has published the impact assessment of the bill which states that the bill will cost anywhere between £30bn and £205bn, while the financial benefits are calculated between £82bn and $110bn.

The Climate Change Bill has committed the UK government to reducing carbon emissions by 80% by 2050.

In an article on the BBC website, Lilley said: “We all want to save the planet from overheating, just as we all want to save the financial system from meltdown. We accept that both rescues may cost us a lot.

We all want to save the planet from overheating but a democracy should at least debate the cost, compare it with the likely benefits and consider whether we can achieve the same ends at less cost

Peter Lilley, MP

“But a healthy democracy should at least debate the cost, compare it with the likely benefits (or costs of doing nothing) and consider whether we can achieve the same ends at less cost.”

Lilley also questioned Ed Miliband’s decision to up the initial target of 60% to 80% as it had increased the costs by “at least a third”.

The Climate Change Bill is expected to be granted Royal Assent on Thursday.