Green projects survive the worst of spending review cuts
The Renewable Heat Incentive, offshore wind, clean coal and the Green Investment Bank received funding today, even as Chancellor George Osborne announced £81 billion in public spending cuts.
Chancellor George Osborne announced during the final part of the Comprehensive Spending Review (CSR) today, that the Government would maintain its commitment to being one of the “greenest governments ever” and fund green initiatives such the Green Investment Bank (GIB), offshore wind manufacturing, carbon capture and storage (CCS) and the Renewable Heat Incentive (RHI).
Science and the environment have still taken a hit, but it is less than some feared. The £4.6 billion budget is the same in cash terms, and will amount to a cut of less than 10 per cent over four years. From this budget, efficiency savings of £324 million will have to be found.
Osborne said the UK is a leader in scientific research and that is the key to future economic success, and therefore should lose as little funding as possible.
For the full article see Greenwise.