A new book – ‘Let them eat carbon’ from TaxPayers’ Alliance Director Matthew Sinclair – looks at the record and cost of climate change policies, and the special interests that profit.
It is said to provide new insights into the cost of major regulations driving up energy prices, particularly the Renewables Obligation and the EU Emissions Trading System.
In 2009-10 the Renewables Obligation cost over £1.1 billion, equivalent to an additional £40 a family (up from under £900 million in 2007-08). The figure includes the subsidies paid to the biomass industry to burn wood, which are funded by rises in energy prices and are said to directly threaten 2.4 million jobs across the UK’s and European wood associated industries.
Matthew Sinclair says: “Regulations that are supposed to cut greenhouse gas emissions are adding to energy bills, and making it much harder for a lot of people to make ends meet. At the same time manufacturers are finding it harder to compete and jobs are being lost as industrial capacity relocates to other countries not placing the same burden on industry. The only ones who benefit are a handful of big businesses that can make billions in profits at the expense of ordinary consumers. With the dismal failure of these policies, and the cost mounting, it is vital that we scrap them.”
You can read more about the book and Matthew’s views in the TPA’s press release.