Some reassurance from Ms Rudd this morning, as the Secretary of State for Energy and Climate Change spoke to business ahead of the Government's response to the 5th Carbon Budget. Whilst it would seem a little too "doomsday" to imagine a wholesale rolling back on the de-carbonisation agenda, supporters are rightly concerned, and Amber Rudd's comments are a positive start.
Where we have to be realistic, however, is on the fiscal reality that we are likely to face. We are not going to see subsidy regimes, tax breaks and the like (and hopefully a bit less of it for the oil and gas industry), and research and innovation grants will be hard to come by. Instead, what we need is a de-regulated policy framework, a laissez-faire approach from the Treasury and DECC, a focus on freeing uis from the MiP, and the confidence to let a broader market generate the opportunities and reward those prepared to invest.
Climate change has not been downgraded as a threat. It remains one of the most serious long-term risks to our economic and national security. I was lucky enough to lead the world-class team of British diplomats at last year’s Paris climate talks. Our efforts were central to delivering that historic deal. And the UK will not step back from that international leadership. We must not turn our back on Europe or the world," Amber Rudd, secretary of state for energy and climate change.