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The government has announced its strategy to meet its promise to cut emissions to net zero by 2050.

In the 368-page document, Boris Johnson said the aim is to “meet the global climate emergency but not with panicked, short-term or self-destructive measures”.

The prime minister added the plan will be driven forward by the “unique power of capitalism” to bring down the costs of going green “so we can make net zero a net win for people, for industry, for the UK and for the planet”.

Prime Minister Boris Johnson (right) appears on stage in conversation with American Businessman Bill Gates during the Global Investment Summit at the Science Museum, London. Picture date: Tuesday October 19, 2021.
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Boris Johnson and Bill Gates (L) announced a green investment partnership

These are the key pledges and policies – and Treasury concerns over how it will be paid for:

Power

The government confirmed a target for all electricity to come from low carbon sources by 2035 – subject to security of supply – which brings the plan forward by 15 years.

That includes:

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• 40 gigawatts from offshore wind, including 1GW of floating offshore wind by 2030

• Deploying a carbon capture, utilisation and storage power plant

Wind turbines at Whitelee Windfarm in East Renfrewshire
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The government wants 40GW to come from offshore wind farms by 2030

• By the end of this parliament (May 2024), the government wants to secure a final investment decision on a large-scale nuclear plant and make decisions after that for more nuclear projects

• Providing £380m for the offshore wind sector

• Fixed minimum annual installation targets of smart meters for energy suppliers from 1 January 2022 so everyone has one by 2026

• Ensuring energy prices are fair and affordable and consumers can use services that will support net zero

Fuel supply and hydrogen

The government wants to deliver 5GW of hydrogen production capacity by 2030 while halving oil and gas emissions.

It plans to do that by:

• Providing up to £140m to establish a scheme that will fund new hydrogen and industrial carbon capture business models

• Implementing a £240m Net Zero Hydrogen Fund in 2022

• Working with the transport sector to develop a low carbon fuel strategy in 2022

• Working with companies to get rid of anything preventing the electrification of oil and gas production by October 2022

• Establishing a climate compatibility check for future licensing on the UK Continental Shelf – the water around the UK to which the country has mineral rights, including large resources of oil and gas

Britain's Prime Minister Boris Johnson looks on as he visits a trade stall inside the conference venue at the annual Conservative Party conference, in Manchester, Britain, October 5, 2021. REUTERS/Phil Noble
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The PM wants hydrogen to become one of the main fuels used in the UK

Industry

The ambition is for 6 metric tonnes of carbon dioxide (MtCO2) to be delivered per year of industrial carbon capture, utilisation and storage (CCUS) by 2030, and 9 MtCO2 per year by 2035.

The government wants to set up four CCUS “clusters” by 2030.

To achieve this, it wants to:

• Set up a £1bn carbon capture and storage infrastructure fund

• Give £315m to the Industrial Energy Transformation Fund to support the installation of energy efficiency and on-site decarbonisation measures – £289m for England, Wales and Northern Ireland, £26m for Scotland

How will this all be paid for?

A Treasury report has said funding the proposals will be difficult, especially as fossil fuel taxes will not be contributing, and warned “new sources of revenue” would be needed.

It added that passing the costs onto future taxpayers through borrowing would “deviate from the polluter pays principle” and would not be fair so the government “may need to consider changes to existing taxes and new sources of revenue”.

But, it said additional revenue could be raised from those doing the most polluting via “expanded carbon pricing”, therefore reducing the need to raise other taxes.

• Support switching from fuel to low carbon alternatives, with the aim of replacing around 50 TeraWatt Hours (TWh) of fossil fuels per year by 2035

• Consider the business and financial implications of setting targets for ore-based steelmaking to reach near-zero emissions by 2035

• Incentivise a cost-effective way of ending the reliance on carbon-emitting fuels in industry

Coal is one of the most carbon-intensive fossil fuels and creates harmful air pollution. File pic
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The government will support the switch from a reliance on carbon-emitting fuels in industry

Heat and buildings

The government wants to wean UK homes and all buildings off a reliance on fossil fuels by 2035 by making it affordable and achievable for everyone.

It has published the Heat and Buildings Strategy, which aims to:

• Support 175,000 green-skilled jobs by 2030 and 240,000 by 2035

• Phase out the installation of new gas boilers by 2035

• Introduce a £450m Boiler Upgrade Scheme so grants of £5,000 will be available from April 2022 for people to replace gas boilers with low carbon heat pumps (currently around £10,000) at the same cost – with the aim of making heat pumps as cheap to buy and run as gas boilers by 2030

• Invest £60m in heat pump innovation to make them more aesthetically pleasing, smaller and easier to install

• Insulate and upgrade poor homes and social housing so they are more efficient by 2030 with a £1.75bn investment

• Set standards for privately rented homes so they are more energy-efficient by 2028 (and will consider doing this for social housing)

• Invest £1.425bn to reduce direct emissions from public sector buildings by 75% by 2037

• Set a minimum energy efficiency standard of EPC Band B (the second most efficient) by 2030 for privately rented commercial buildings in England and Wales

• Trial hydrogen heating on a large-scale to make a decision by 2026 on its future role

Transport

The government has pledged to end the sale of new petrol and diesel cars and vans from 2030 and from 2035 all new cars and vans must be zero-emission.

To achieve that it wants to:

• Set targets for a percentage of new vehicle sales to be zero-emission each year from 2024

• End the sale of all new, non-zero emission road vehicles by 2040 – including motorcycles, buses and HGVs

• Ensure the UK’s vehicle charging network is reliable

• Commit an additional £620m on top of the £1.9bn already pledged for zero-emission vehicle grants and electric vehicle infrastructure

• Have 25% of the government’s car fleet ultra-low emission by December 2022 and all zero-emission by 2027

Pod Point offers electric vehicle chargers for home, business and public use
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Electric vehicle charging points will be boosted under the plan

• Invest £12bn in local transport systems by May 2024

• Invest £2bn in cycle lanes and low-traffic neighbourhoods so half of all town and city journeys can be walked or cycled by 2030

• Invest £3bn in buses, including 4,000 new zero-emission buses, more bus lanes and more frequent services

• Electrify all railway lines by 2050 and remove all diesel-only trains by 2040

• Phase out the sale of new non-zero emission domestic shipping vessels

• Use £180m of funding so 10% of commercial flights use sustainable aviation fuels by 2030

Natural resources, waste and fluorinated gases (man-made gases such as HFCs and PFCs used in industry that contribute to the greenhouse effect)

The government wants 75% of farmers in England to be using low carbon practices by 2030 and 85% by 2035.

It aims to do this by:

• Increasing research and development funding into how to deliver net zero in agriculture and horticulture

• Trebling tree growing to meet the target of 30,000 hectares of planting per year by May 2024 and maintain that from 2025 onwards

Bill Gates boosts UK green investment

Boris Johnson and Microsoft co-founder Bill Gates announced a £400m partnerships to boost green investment.

Mr Gates and the government are going 50/50 on the investment.

The tech billionaire said the money will go towards funding clean technologies and reducing their costs “so they can compete with and replace the high-emitting products we use today”.

• Adding £124m to the existing £640m Nature for Climate Fund to restore at least 35,000 hectares of peatland in England, and create and manage woodlands by 2025 – helping farmers to change land use

• Restoring about 280,000 hectares of peat in England by 2050

• Supporting private investment in tree planting and peat restoration

• Increasing the use of timber in construction in England

• Putting £295m into English local authorities to implement free separate food waste collections for all households from 2025 to eliminate biodegradable municipal waste going to landfill from 2028

• Completing a review of F-gas regulations and seeing if they can go further

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Greenhouse gas removals (GGR)

The plan is to engineer the removal of at least 5 MtCO2 per year of greenhouse gases by 2030.

The government says it will do this by:

• Putting £100m of investment into GGR innovation and developing incentives to remove greenhouse gases

• Trying to amend the Climate Change Act to enable engineered GGR to contribute to UK carbon budgets

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Dubai real estate sales hit $18B in May amid tokenization push

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Dubai real estate sales hit B in May amid tokenization push

Dubai real estate sales hit B in May amid tokenization push

Dubai’s property market hit $18.2 billion in sales in May alongside growing tokenization momentum, new regulations and a record $3 billion real estate blockchain deal.

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Spending Review 2025: Faster drug treatments and longer-lasting batteries to come from £86bn science and tech package

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Spending Review 2025: Faster drug treatments and longer-lasting batteries to come from £86bn science and tech package

Research into faster drug treatments and longer-lasting batteries will form part of the £86bn science and technology funding due to be unveiled in the government’s spending review next week.

On Wednesday, Chancellor Rachel Reeves will unveil how much taxpayer money each government department will get.

Each region in England will be handed up to £500m to spend on science and technology projects of their choice, the Department for Science, Innovation and Technology (DSIT) says.

In Liverpool, the funding is being earmarked to speed up the development of new drug treatments, while in South Wales, it will fund longer-lasting microchips for smartphones and electric cars.

Overall by 2030, Ms Reeves’s spending package will be worth more than £22.5bn a year, the government says.

“Britain is the home of science and technology,” she said on Sunday. “Through the ‘plan for change’, we are investing in Britain’s renewal to create jobs, protect our security against foreign threats and make working families better off.”

Science and technology secretary Peter Kyle added: “Incredible and ambitious research goes on in every corner of our country, from Liverpool to Inverness, Swansea to Belfast, which is why empowering regions to harness local expertise and skills for all of our benefit is at the heart of this new funding – helping to deliver the economic growth at the centre of our plan for change.”

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Spending review 2025: All you need to know
How much cash will each department get?

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Can AI predict spending review, asks Sky deputy political editor Sam Coates

Flat real-terms budget ‘won’t be enough’

Regional leaders such as North East Mayor Kim McGuiness and West Midlands Mayor Richard Parker welcomed the funding promise.

But the announcement was met with caution by industry leaders.

John-Arne Rottingden, chief executive of Wellcome, the UK’s biggest non-governmental research funder, said: “While it’s positive under the financial circumstances, a flat real-terms science budget, along with continuing barriers such as high visa costs for talented scientists and the university funding crisis, won’t be enough for the UK to make the advances it needs to secure its reputation for science in an increasingly competitive world.”

He claimed the UK should be “aiming to lead the G7 in research intensity” to “bring about economic growth” and “advances in health, science, and technology that benefit us all”.

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Director of policy and public affairs at the Institute of Physics Tony McBride expressed similar concerns.

“To fully harness the transformational potential of research and innovation – wherever it takes place – we need a decade-long strategic plan for science,” he said.

Mr McBride said a “plan for a skilled workforce… starting with teachers and addressing every educational stage” is key – something he hopes will feature in Ms Reeve’s spending review.

Among the other announcements expected are a potential scrapping of the two-child benefit cap and a green light to a new nuclear power station in Suffolk – Sizewell C.

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Reform UK chairman Zia Yusuf reverses decision to quit party

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Reform UK chairman Zia Yusuf reverses decision to quit party

Reform UK chairman Zia Yusuf has reversed his decision to quit the party, saying “the mission is too important” and that he “cannot let people down”.

Instead, he said he will return in a new role, heading up an Elon Musk-inspired “UK DOGE” team.

In a statement, he said: “Over the last 24 hours I have received a huge number of lovely and heartfelt messages from people who have expressed their dismay at my resignation, urging me to reconsider.”

He added: “I know the mission is too important and I cannot let people down.

“So, I will be continuing my work with Reform, my commitment redoubled.”

Mr Yusuf said he would be returning in a new role, seemingly focusing on cuts and efficiency within government.

He said he would “fight for taxpayers”.

Only two days prior, Mr Yusuf dramatically handed in his resignation.

He claimed he no longer thought getting a Reform government elected was a “good use of my time” – but has now seemingly changed his mind.

Reform UK leader Nigel Farage welcomed the news of Mr Yusuf’s return.

He said: “I am delighted that Zia Yusuf will head up Reform UK’s DOGE department.”

Reform UK party leader Nigel Farage and party chairman Zia Yusuf, during a Reform UK press conference.
Pic: PA
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Nigel Farage welcomed Zia Yusuf’s return. File pic: PA

Read more:
Why did Zia Yusuf resign as chairman of Reform UK?
Reform’s rise forces rethink for SNP
‘Farage could become PM’

Mr Yusuf’s initial decision to quit came after he publicly distanced himself from the party’s new MP, Sarah Pochin, when she asked Sir Keir Starmer about banning the burka at Prime Minister’s Questions.

Reform said a ban was not party policy – and the chairman called it a “dumb” thing to ask.

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What is DOGE?

DOGE is a meme-coin inspired creation of Musk’s, standing for the Department of Government Efficiency.

It is the latest right-wing US import into British politics.

Before his public fallout with Donald Trump, the tech billionaire said his focus was saving taxpayers’ money by locating wasteful spending within government and cutting it.

Read more: How Elon Musk’s mission to cut government spending fell flat

However, opposition politicians questioned the impact of his efforts and how much he actually saved.

Musk initially had ambitions to slash government spending by $2trn (£1.5trn) – but this was dramatically reduced to $1trn (£750bn) and then to just $150bn (£111bn).

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