To ask the Chancellor of the Exchequer, whether an independent estimate of the economic cost of the Net Zero policy is being prepared as part of the Net Zero Review; if he will publish the underlying assumptions and calculations of that estimate; and if he will make a statement.
The Net Zero Review is an analytical review that uses existing data to explore the key issues and trade-offs as the UK decarbonises. Against a backdrop of significant uncertainty on technology and costs, as well as changes to the economy over the next 30 years, it focuses on the potential exposure of households and sectors to the transition, and highlights factors to be taken into account in designing policy that will allocate costs over this time horizon. The final report will follow on from the interim report published in December 2020 and set out the key findings from the research and analysis carried out as part of the Net Zero Review.
The Net Zero Review final report will be published in due course, and in advance of COP26