ECONOMY
UK taxpayer warning: Net-zero plan could see household bills SOARING by hundreds of pounds

The Heat and Building Strategy is set to be published within the next few weeks and will detail how the Government plans to address potential issues for homeowners such as electricity being significantly more expensive than gas. The Prime Minister wants to achieve his net-zero target by banning gas boilers in homes and sales of new petrol and diesel cars. When asked about the expense to consumers of scrapping gas boilers, Business Secretary Kwasi Kwarteng insisted ministers will “try and help people make that transition”.

But he is “concerned” about a gaping £20billion hole in the country’s public finances that will open up through the loss of fuel duty through the switch to electric cars.

A semi-detached house or mid-terrace property costs on average around £600 to heat each year, while the cost of installing a heat pump into a home would be as high as £8,000, although this would reduce bills by around £500 a year.

Installing a hydrogen boiler would cost about £3,000 but hydrogen bills would be about £900 a year.

But John O’Connell, chief executive of the TaxPayers’ Alliance, warned some households could see their household bills surge by as much as £400 each year with the total costs stretching into tens of billions.

He also warned Mr Johnson that with tax levels in the UK at their highest in 70 years, asking taxpayers to pay more is “not a sensible, nor a vote-winning option”.

Mr O’Connell told Express.co.uk: “The net-zero target must not see working taxpayers landed with the bill. Estimates suggest that some households could see their bills rise by as much as £400 per year.

“The costs of net-zero will almost certainly stretch into the tens of billions, if not higher.

“With the highest tax levels in 70 years, family finances are already strained and they cannot be expected to pay more for food, goods and travel.

a hand holding a microwave oven: uk net zero gas boiler

                                © GETTY uk net zero gas boiler

“Asking taxpayers to dig even deeper into their pockets in the form of ever-greater taxation is not a sensible, nor a vote-winning option.

“If the government wants to meet the costs then it must make savings and launch an unapologetic war on waste – it must save to spend.

“Ministers must promise to protect Brits from any green cost hikes.”

The TaxPayer Alliance boss was citing a recent report from the National Infrastructure Commission, who warned UK families could see their bills surging by up to £400 each year to cover the cost of the net-zero target.

gas boiler hydrogen boiler

                                 © GETTY gas boiler hydrogen boilerKwasi Kwarteng wearing a suit and tie: Business Secretary Kwasi Kwarteng

                                 © GETTY Business Secretary Kwasi Kwarteng

Sectors regarded as having minimal chance of hitting the target in under 30 years will have to start covering the cost of removing greenhouse gases from the atmosphere, the Government’s infrastructure adviser warned.

The report stated taxpayers would have to spend up to £400million over the next decade to help form an industry to store the gases if Britain is to meet its carbon pledge.

Analysis for the NIC suggested the poorest tenth of households will pay an extra £80 a year by 2050, rising to £400 for the richest tenth.

But it added that within 30 years, the average household will have an income £15,000 higher than today.

The Office for Budget Responsibility had also estimated the total cost of achieving the UK’s net-zero plan by 2050 could surge to £1.4trillion.

However, the body suggested this could be offset by savings achieved through greater energy efficiencies.

Source: Εxpress.co.uk

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