Budget 2012 – Increased Support for UK Renewables Sector
In his 2012 Budget, George Osborne gave his strongest support to date for the UKâs renewable energy sector. Clearly stating that he would like to see increased investment in renewables, he also underlined that the governmentâs 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 ârenewable energy will play a crucial part in Britainâs energy mixâ but that he will aim to protect bill payers by being âalert to the costs we are asking families and businesses to bearâ.
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 âpresumption in favour of sustainable developmentâ will be included in the National Planning Policy Framework to be published 27th March 2012.