MINISTERS must stop billions of pounds going down the Net Zero drain — and use the cash to beef up defence instead, MPs are demanding.
The Government is committed to £25billion of eco projects, and the cost is set to rocket.
MPs are demanding that ministers must stop billions of pounds going down the Net Zero drain — and use the cash to beef up defence instead[/caption]
Ed Miliband’s publicly owned company GB Energy is reported to be cut by the Treasury[/caption]
The state will have to spend between £107billion and £363billion by 2050 to hit Net Zero goals, the Climate Change Committee estimated last week.
When private investment is included, the total cost soars to £972billion by 2050 — although much of this could be offset by operating savings.
Tory MP Esther McVey said: “The money would be better spent on defence of the realm.
“We shouldn’t be spending £25billion on Net Zero projects.”
Tory MP Nick Timothy singled out Energy Secretary Ed Miliband, saying: “His dangerous and ideological approach is not only bad for our economy but a massive misallocation of funds.”
Reform UK leader Nigel Farage said: “We need to up defence spending urgently, not pour money down the Net Zero drain.”
It comes as an extraordinary battle broke out in the Government over Net Zero spending.
Reports claimed the Treasury is planning to cut GB Energy — the publicly owned company set up by Mr Miliband to invest in clean energy and decarbonisation.
One Government insider tried to dismiss the claims as “nonsense” but another said they were going through all spending decisions line by line in the tussle with the Treasury.
