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Regular news: Issue 482 22 Nov 2007

Costs of Climate Bill revealed

The costs of reducing carbon dioxide emissions by 60% by 2050 could outweigh the benefits of reduced climate change damage according to the Government's own calculations included in the Climate Change Bill published last week. The impact assessment estimates the costs of achieving the target to be 0.3%-1.5% of GDP in 2050 which in present value terms could be £30bn-£205bn. But the Government says the present value of benefits "would be in the order of...

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