In his 2012 Budget, George Osborne gave his strongest support to date for the UK’s renewable energy sector. Clearly stating that he would like to see increased investment in renewables, he also underlined that the government’s National Infrastructure Plan highlights clear priorities for investment in clean energy, and water.
Osborne continued that the renewable energy sector will be supported by UK government and that “renewable energy will play a crucial part in Britain’s energy mix” but that he will aim to protect bill payers by being “alert to the costs we are asking families and businesses to bear”.
Plans to introduce a carbon floor price from April 2013, make the UK the first country to take such a step. This is designed to provide businesses with the guarantee that the price of carbon will not drop below a prescribed level.
He also confirmed that a “presumption in favour of sustainable development” will be included in the National Planning Policy Framework to be published 27th March 2012.