UK Budget sets green alarm bells ringing

George Osborne with the traditional red box containing his Budget papers

George Osborne with the traditional red box containing his Budget papers

UK chancellor George Osborne has set off alarm bells among renewable investors in his Budget speech by backing a central role for natural gas.

Osborne says gas is cheap, emits much less carbon than coal and will be the largest single source of the country's electricity in the coming years.

His comments come at a time of wider debate as to whether a new age of gas will overshadow investment in renewables.

Osborne says clean energy will be an infrastructure priority on a par with roads and broadband. “I also want to see investment in our world-leading energy sector, including renewables,” he says.

The chancellor says renewables "will play a crucial part in Britain’s energy mix, but I will always be alert Log in to read complete article.

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