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Coalition government issue statement outlining policy agreements.

12 May 2010

The new Conservative-Liberal Democrat coalition issued a statement on 12 May 2010 outlining the policy agreements that had been reached by the two parties.  In relation to the environment and a low carbon economy, the following policies and measures were included within that statement, the exact details of which will follow over the course of the months ahead:

  • The establishment of  a smart grid and the roll-out of smart meters;
  • The full establishment of feed-in tariff systems in electricity – as well as the maintenance of banded ROC’s;
  • Measures to promote a huge increase in energy from waster through anaerobic digestion;
  • The creation of a green investment bank;
  • The provision of home energy improvement paid for by the savings from lower energy bills;
  • Retention of energy performance certificates whilst scrapping HIPS;
  • Measures to encourage marine energy;
  • The establishment of an emissions performance standard that will prevent coal-fired power stations being built unless they are equipped with sufficient CCS to meet the emissions performance standard;
  • The establishment of a high-speed rail network;
  • The cancellation of the third runway at Heathrow;
  • The refusal of additional runways at Stansted and Gatwick;
  • The replacement of Air Passenger Duty with a per flight tax;
  • The provision of a floor price for carbon, as well as efforts to persuade the EU to move towards full auctioning of ETS permits;
  • Measures to promote green spaces and wildlife corridors in order to halt the loss of habitats and restore biodiversity;
  • Mandating a national recharging network for electric and plug-in hybrid vehicles;
  • Continuation of Labour’s proposals for public sector investment in CCS technology for four coal-fired power stations; and a specific commitment to reduce central government carbon emissions by 10% within the next 12 months;
  • Seek to increase the target for energy from renewable sources, subject to advice from the Climate Change Committee;

A difference of opinion remains on the replacement of existing nuclear power stations with the Liberal Democrats maintaining their opposition, and the Conservatives pressing ahead, intending to seek ratification from parliament to a national planning statement so that new nuclear construction will become possible.

Disclaimer

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Smith & Williamson Limited

Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International