RegulationCorporate Governance‘Green’ Budget to aid economic recovery

'Green' Budget to aid economic recovery

Prime minister believes way to rescue economy is through environmental initiatives

The Prime Minister has said the next Budget will have a green tinge to it as
he sees environmental initiatives as the way forward to rescue the economy.

Gordon Brown said that the Chancellor will announce trials of electric cars
in the next budget due on 22 April.

He believes that jobs of the future would come from a ‘green revolution’ and
has set a target of creating 400,000 jobs in the environment sector The

Brown said: ‘A better Britain means building a greener Britain.’

‘This is a major part of our plan for recovery in the Budget’ he added.

However Brown hinted that Chancellor Alistair Darling may have to announce
tax rises for the medium term to balance the country’s books as original
forecasts on public borrowing of £118bn, may rise to approximately £150bn.

The PM is looking at ways to build up the UK economy through environmental
investment and has set a target of a 50% increase in green goods and services in
the next few years investing £1.5bn in the industry.

Brown hopes to increase the UK’s chances of economic recovery with investment
in electric cars and has begun talks with power companies and councils to ensure
vehicles can recharge their batteries on a national framework.

He added that he wanted to make the UK ‘a world leader’ in producing and
exporting electric cars.

Jaguar Land Rover received a £340m loan from the European Investment Bank to
develop ‘green’ vehicles.

Further reading:

electric dream for Britain

Environmental agendas take back seat to corporate

Car emission cap delayed to 2015

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