A 'Horse and Cart' Challenge - the Need to Understand 'Who Pays' before the Macroeconomic and Distributional Impacts of the Net Zero Transition can be Projected

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Abstract

In November 2023 the Climate Change Committee (CCC) set out its methodology for the UK's Seventh Carbon Budget, accompanied by a Call for Evidence by mid-January 2024. One crucial challenge emerging is that the CCC propose to report ‘a high level analysis of the main macroeconomic dynamics of the transition, and to assess distributional impacts, while noting that ‘It is for the Government to determine how the costs of the transition are met’ and abstracting from any consideration of who bears the costs, how and when. While it is of course for government to make such decisions, it is important that input regarding the impacts of different potential decisions is made available to policymakers.
Original languageEnglish
Place of PublicationGlasgow
PublisherUniversity of Strathclyde
Number of pages6
Publication statusPublished - 1 Feb 2024

Keywords

  • net zero
  • economy
  • energy

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