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City analysts today warned the government that the British economy is set to witness a recession which could last up to 18 months. Capital Economics predicts that the gross domestic product for the...
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Sunday 22nd June 2008
As the UK government look to 2020 and the EU imposed renewable energy target of 15% it seems as though the UK consumer may be blitzed by a new green push from the authorities. Energy Minister Malcolm Wicks has today taken to the airwaves to announce an ambitious £100 billion project which will see the development of a whole new green culture in the UK and a number of new environmentally friendly power stations.
However behind all of the headlines and praise for the new green policy the government also announced the startling fact that green power is still substantially more expensive that traditional power supplies. While many will argue that the more consumers that become involved in this new power ector the more money companies will invest, in many ways the figures just do not seem to add up.
An investment of £100 billion (all tax payers’ money) will only see the UK reach a maximum of 15% green power by 2020, although many even doubt that figure will be reached. It is difficult to see at which point the green revolution will actually become cost affective and therefore catch the eye of the public. |
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