The Staggering Cost of Ed Miliband’s Net Zero Drive Finally Revealed: £4.5 Trillion… That’s More Than the UK’s Entire GDP
New official figures suggest Ed Miliband’s Net Zero push could cost an eye-popping £4.5 trillion – more than the UK’s entire GDP – with households left to foot the bill. The Mail has more.
Critics said the extraordinary mounting costs for measures such as wind farms, solar panels, green heating systems and upgrades to roads and railways are significantly higher than previous forecasts and could “bankrupt” the economy.
The figures, quietly published last month by the National Energy System Operator (NESO) – a Government quango responsible for Britain’s energy systems – includes an estimated £585 billion to be forked out by ordinary households to pay for the move away from energy-guzzling boilers towards eco-friendly heat pumps.
And new wind farms and electricity pylons across the country would cost £1 trillion, it estimates, while switching to electric vehicles and building more charging stations could add further costs of up to £2.6 trillion.
In total, NESO estimates Britain will need to spend £182 billion a year to reach its targets by 2050. …
The potential multi-trillion-pound bill will pile further pressure on the Government to rethink its eco goals as fears mount that household bills will be pushed up to accommodate the green transition.
Last month, reports emerged that Energy Secretary Ed Miliband was poised to splurge billions of pounds on household grants for solar power, batteries and heat pumps in a scramble to meet Labour’s promise to cut energy bills.
He is expected to set out proposals next month to allocate up to £13 billion over the next four years as part of the Government’s warm homes plan. …
Previous estimates from the UK’s fiscal watchdog, the Office for Budget Responsibility, suggested the move to Net Zero would cost more than £800 billion over the next two decades – with the public purse shelling out £30 billion a year.
Worth reading in full.
To join in with the discussion please make a donation to The Daily Sceptic.
Profanity and abuse will be removed and may lead to a permanent ban.
To paraphrase Henry 11, will no one rid us of this troublesome priest, in this case of the false religion of AGW, rather than of Catholicism. And in case anyone is reading this, my quote is as the king intended, i.e. removed from office and not the misunderstanding of the four knights.
I think you are safe to paraphrase Henry II, nobody educated in our school system since the 1970s will understand the reference.
Just like Cnut’s wave instruction demonstration, when it is remembered, is usually misunderstood.
How are we letting one man do more harm to the country than Germany did in the last war?
Even if CO2 was a threat, (it isn’t), then the global result of the UK ever achieving Net Zero is precisely nothing, as other countries will quickly fill the gap.
In essence this is £4.5 trillion on virtue signalling. It’s got to stop.
To stop non-existent warming. The UK emits a mole fraction of the global total. So we go bankrupt and destroy our economy, farming, ecology and offshore seas, to accomplish what exactly? Mother Gaia won’t notice a damn thing except a lot more dead animals and a lot fewer pollinators and wild areas. Really is the Age of the Retard.
Yea but it won’t. Because the globalists demand it. They want us poor. Deciding if really want to spend the carbon points to boil our kettle.
Exactly
It isn’t just one man though. He is implementing the policy of the WEF and EU – as instructed by the Climate Change Committee.
Yep and Net Zero was waved through Parliament in 2019 with no debate, no cost/benefit analysis and NO VOTE. It is a CLIMATE CHANGE COUP
Staggering incompetence by Miliband and Labour. None of this spending adds to living standards for ordinary people. It’s just virtue signalling and narcissism by a mad left elite.
This is not incompetence, error or mistake.
Correct. I used to wonder whether this shambles of a government was incompetent, or stupid, or malevolent. It is now obvious that they are all three.
If by some miracle the Tories make it into office again. This will just carry on as exactly now.
I think of that every time the little bimbo Coutinho spouts off given she was fully on board when she was in office.
Multiculturalism, Netzero… both human sacrifice ideologies, both defining policies of the left
£4.5 trillion smeared across 30 million households not on benefits is £150,000 per household, £6.000 per tax-paying household per year for the next 25 years.
All to sustain the Marxist climate heist and deliver the highest energy prices in the world. Energy treason against the British people. Clean power is dirty lies.
“energy-guzzling boilers”
“eco-friendly heat pumps”
I hope that’s sarcasm. If it is, I hope it isn’t lost on their readership.
Yes, I noticed that bullshit this morning.
It is sarcasm, Boilers do not guzzle energy, they (and the rest of the system) simply change it to low grade heat (which we need). Heat pumps are not eco-friendly, cost much more, and are fairly useless. Heat pumps with a water system are plain stupid, but that is what they try and sell us! Utterly crazy! BTW, simple thermodynamics proves so!
The cost is inestimable, because attempts to cost it are only being applied to tangibles and assume present day costs for the mined minerals to provide materials such as copper, aluminium, cobalt, lithium, for the electrical equipment, cabling, generation, appliances, motors, battery charges, etc to meet Net Zero by 2050. Neither mining output nor manufacturing output can meet demand, bearing in mind this lunacy is not confined just to the UK, so as supply falls increasingly behind demand, prices will soar.
Then there are the intangibles: the cost of capital to pay for it, and opportunity cost, the cost to the economy from loss of activity as capital and other resources are increasingly switched to meeting Net Zero deadlines, as well as a fall in economic output as it suffers the consequences of shortages of resources and higher, and higher energy prices.
The true cost of Net Zero is complete economic collapse.
Christopher Booker predicted 20 years ago that the cost of decarbonising the economy would bankrupt the nation and achieve precisely nothing. Nobody listened then and nobody will listen now. The climate catastrophe ideology has captured the institutions and the political class. To backtrack now will be far too humiliating for these brainwashed people and their virtual signalling egos.
A lot of us agreed with him, anyone with any scientific ability always knew so!
One has to wonder how the scientific community became so captured by ideology that they were unable to stand up and challenge the nonsense that vested interests and corrupt scientists were propagating at the very beginning of the man-made global warming narrative. Money?
No, well perhaps some money. Mostly it was sacking, cancelling, stopping promotion. All the underhand tricks in the book! I have been cancelled and removed from an institution committee for example, for telling the truth. They cannot afford to have anyone to stop the huge flows of money in all kinds of places. I am certain it is many millions , total – £ Billions!
“One has to wonder how…” imo, What happened to Australian Dr Peter Ridd back in 2017 is instructive here. A deep expert on corals and coral reefs, especially The Great Barrier Reef (GBR), Dr Ridd was sacked by James Cooke University (JCU) for, “failing to be collegial.” His crime? He disagreed with some of his JCU colleagues and said so, in clear English, not in scientific mumbo jumbo. Dr Ridd expressed his scientific opinion that contrary to their report, the GBR was not at all in terminal decline caused by anthropometric global warming (AGW). He didn’t name them and he didn’t say where they worked, and AGW has since morphed into the more catchy, Climate Change. Dr Ridd appealed against his dismissal; at every stage he lost, until (crowd funded) at the Australian Court of Appeal he won. Hurrah! Of course, the by then captured Australian government (and the marxist UN) couldn’t allow this judgement to stand, so inevitably (again crowd funded) Dr Ridd lost. A short history here: https://ipa.org.au/research/plain-english-lost-on-the-high-court-of-australia And earlier (Nov 2009), more pusillanimus global expert scientific shenanigans at the University of East Anglia (UEA) for which revealed misdemeanours I’m sure that nobody except maybe the UEA computer… Read more »
I remember the Ridd case vaguely. Thanks for the links. I’ll try to follow them up.
It’s the same logic that concluded that a few million corpses was a price well worth paying for the prefect society.
And the same outcome: after a few million corpses they were even further from the perfect society than to start with.
That’s only half of it. The full cash costs of NESO’s Holistic Transition are over £9 trillion including carbon costs.
And when have any government projects ever come in at forecast cost? Think HS2.
It is all going to crash as we ddo not have £ Trillions. They will “make do” with £100 Billion, and then say it all failed because there wasn’t enough money! It is jobs forever for the “boys”, the rest is just too expensive. Corrupt? You bet!
Bloody hell, Daily Fail. “Energy guzzling boilers?
Condensing combies are easy 90+% efficient. What ridiculous language.
£££££££££ guzzling heat pumps.
Given their whole purpose in life is to heat water by transfering energy, surely a non-energy guzzling boiler would be a bit crap? The daily fail – never fails to lower the bar
Actually good ones at least 95%!
Not really Miliband’s. Labour’s. Supported and enabled by the Uniparty.
And Net Zero fixed in legislation by the mesmerisingly stupid, the ghastly Theresa May.
Without a squeak from anyone with a brain cell. Appalling. These costs are absolutely eye watering. I simply can’t see how it can continue.
Answer, it cannot! We will be busted first, have nothing and be b**dy mad!
Theresa May is a traitor, she signed the refugees welcome initiative without involving parliament. A genuine disaster.
Ban X, that’ll do it. Quieten everyone down.
VPN anyone?
They want to ban VPNs, didn’t you know? Control and monitor everyone. Say no to Digital ID. Stupid idea anyway, all about control from Blair (the technowizard) except he is not!
What about “Y”? They will have to cancel the Internet, except that would cancel Britain. Tricky one Stalin!
The truth is that nothing will be delivered before MiliTwat is toast.
This is all for no good whatsoever. I have estimated that if the world continues to produce CO2 at the present rate it will take over 6,000 years to raise global temperature by 1 deg C. The UK contribution is 1% of that. It must be considered that the mad rush to achieve net zero is nothing to do with global security and all about destroying the UK economy and the UK as an independent, sovereign, and democratic country. All the main parties Conservative, Labour, Lib Dem, Greens are committed to this policy. Net Zero is their main
means of achieving this now that we voted to leave the EU.
Not just the cost. The environmental degradation is so depressing. Here in Cornwall, the fields are turning grey with solar panels stretching away as far as the eye can see, alternated with massive turbines planted where there should be trees, mincing up birds and bats instead of providing shelter for them and humans. Reckless insanity. Stop the subsidies and pay farmers a fair price for food! Whatever happened to the marketing boards – for meat, milk etc?
How to destroy a nation? Remove its ability to:
a) defend itself
b) feed itself
c) create the energy to do the above
d) import a fifth column
e) bankrupt it
And those are the objectives of the Globalists and their puppet Two-Tier.
wink
Why is it that only TRUMP and Nigel see this? Answer: they are not being bribed!
When it comes to pretending to “save the planet” there can be no cost benefit. Because if there was the public would realise right away that not only is Net Zero a terrible deal but it is all based on evidence free claims of a “climate crisis”. —-The IPCC itself has recently said that “worst case scenario’s from our climate models are very unlikely to occur”. So where is the CRISIS? There is none. The climate is simply the plausible excuse for the implementation of Public Policy (Net Zero) that says our lifestyles are unsustainable and we must make do with less of EVERYTHING, and that all starts with energy use. So affordble reliable energy is being removed and is being replaced with unaffordable unreliable energy. —This is costing astronomical sums of money that could be put to better use.
The plan is to kill much of the population by any available means. The Covid attempt backfired spectacularly! They seem to think cold and bankruptcy will work. It will not, we are much more robust than they believe, they being a crowd of whimps. I can see a day very soon when someone takes a few pot shots at certain Politicians. Why do you think they are trying to get rid of the SAS? There are plenty of patriots left, many ex services!
How is it possible the al gore of Britain can get away with destroying your country. Does the majority have no say, or is the majority your welfare recipients? I wonder what would happen if all adults currently working, simply stopped. Who would pay for Ed’s dreams?
I have heard, in the Pub, that will soon happen. Is this why they want to get rid of pubs?
This has to be one of the craziest things I’ve ever read. Bankrupt our once great nation for no discernible effect. Why is this message only being reported in the Mail or here?