{"id":1360166,"date":"2022-03-05T17:09:07","date_gmt":"2022-03-05T22:09:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1360166"},"modified":"2022-03-05T17:09:16","modified_gmt":"2022-03-05T22:09:16","slug":"young-people-should-pay-the-costs-of-green-agenda-says-house-of-lords","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/young-people-should-pay-the-costs-of-green-agenda-says-house-of-lords\/","title":{"rendered":"Young People Should Pay the Costs of Green Agenda, Says House of Lords"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyoung-people-should-pay-the-costs-of-green-agenda-says-house-of-lords%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1360166&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/03\/GettyImages-699146256-e1646505804678-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">The economic burden of Boris Johnson\u2019s \u2018Build Back Better\u2019 green push towards a net-zero economy should be borne by younger generations as older Britons will not benefit from the schemes, a House of Lords committee has suggested.<\/p>\n<p>A <a href=\"https:\/\/committees.parliament.uk\/publications\/9141\/documents\/159550\/default\/\">report<\/a> from the Industry and Regulators Committee in the upper house of the British parliament claimed that it will cost the government some \u00a3321 billion to reach the goal of transitioning the British economy to net-zero carbon emissions by the year 2050. This figure is hotly contested, however, with a recent report from the House of Commons stating that the government itself has \u201c<a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/03\/bojo-has-no-idea-how-much-net-zero-green-agenda-will-cost-mps-say\/\">no reliable<\/a>\u201d estimate of the costs for government and indeed consumers of the green agenda.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The Lords committee said that they were not persuaded that the government has enough of a detailed policy plan to meet the commitments laid out, stating that there is a \u201clarge gap between the ambitious targets and the extensive investment required from businesses and individuals.\u201d<\/p>\n<p>\u201cWe have been told that there is substantial UK and international private capital waiting to fund new technologies, but clarity is needed if we are to take advantage of it,\u201d the report said.<\/p>\n<p>In order to pay for the massive overhaul of the economy the chairman of the committee, Lord Hollick, <a href=\"https:\/\/committees.parliament.uk\/committee\/517\/industry-and-regulators-committee\/news\/161468\/uk-will-miss-net-zero-target-without-urgent-action-warns-lords-committee\/\">said<\/a>: \u201cThe amount that can realistically be raised via surcharges on energy bills is not enough.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cBills are regressive as the poor pay more of their income on energy costs. It is also unfair to the current generation, as we are asking current billpayers to cover the huge costs of something that is designed to mainly benefit future generations.\u201d<\/p>\n<p>The House of Lords peer suggested, therefore, that the government should look to incur more debt through public borrowing to pay for the \u201clong-term infrastructure costs\u201d and pass on the costs to future generations.<\/p>\n<p>The committee went on to ask the Chancellor of the Exchequer Rishi Sunak to rethink his \u201copposition to the use of government borrowing, due to its suitability for this type of investment financing, and because future generations will be the main beneficiaries of net-zero investment\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Meanwhile, the House of Commons Public Accounts Committee reveals Boris&#8217;s government has &#8220;no reliable estimate&#8221; of how much its <a href=\"https:\/\/twitter.com\/hashtag\/BuildBackBetter?src=hash&#038;ref_src=twsrc%5Etfw\">#BuildBackBetter<\/a> net-zero green policies are going to cost <a href=\"https:\/\/t.co\/Pp7epw30w4\">https:\/\/t.co\/Pp7epw30w4<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1499387871240900608?ref_src=twsrc%5Etfw\">March 3, 2022<\/a><\/p>\n<\/blockquote>\n<p>This passing of the buck to the young would broadly line up with the <a href=\"https:\/\/www.ons.gov.uk\/peoplepopulationandcommunity\/wellbeing\/articles\/threequartersofadultsingreatbritainworryaboutclimatechange\/2021-11-05\">generational views<\/a> on climate change, with those over the age of 70 being less likely to be concerned about the issue than their younger counterparts.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>Interestingly, the average age of a member of the House of Lords currently stands at 71 years old.<\/p>\n<p>However, in terms of being able to bear the brunt of the spending, older generations are significantly wealthier than their successors, with those aged between 60-64 having nine times as much wealth as their 30-34-year-old counterparts.<\/p>\n<p>It is unclear, however, how willing the Conservative Party-led government will be to increase the debt, which has been a major focus in the wake of massive public spending during the Chinese coronavirus crisis, with the debt jump to over <a href=\"https:\/\/www.ons.gov.uk\/economy\/governmentpublicsectorandtaxes\/publicspending\/bulletins\/ukgovernmentdebtanddeficitforeurostatmaast\/september2021\">\u00a32.2 trillion<\/a> or 103.7 per cent of GDP.<\/p>\n<p>In order to cover such costs, the government has introduced a swath of tax hikes, resulting in the highest tax burden for over 70 years.<\/p>\n<p>Boris Johnson\u2019s government has also been unwilling to use new Brexit powers to cut taxes on energy bills \u2014 often directed towards funding green schemes \u2014 despite the spiralling cost of energy in the country.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Build Back Better: From Boris Johnson to Greta and Extinction Rebellion, Britain\u2019s Year of Climate Craziness <a href=\"https:\/\/t.co\/L4Vn4BAqMi\">https:\/\/t.co\/L4Vn4BAqMi<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1476854199220641831?ref_src=twsrc%5Etfw\">December 31, 2021<\/a><\/p>\n<\/blockquote>\n<p><em><strong>Follow Kurt Zindulka on Twitter here <a href=\"https:\/\/twitter.com\/KurtZindulka\">@KurtZindulka<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The economic burden of Boris Johnson\u2019s \u2018Build Back Better\u2019 green push towards a net-zero economy should be borne by younger generations as older Britons will not benefit from the schemes,<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1360166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1360166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1360166"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1360166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1360166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1360166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1360166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}