An interesting nugget on the carbon price in #Budget2020 – Govt will set up both a UK emissions trading system and a carbon tax. One of them will be needed to replace the EU ETS from 2021. pic.twitter.com/0EiDhnRYyp (The United Kingdom has recently experienced record rainfall, with some parts of the country experiencing severe flooding. To date, it seems that such events are becoming more frequent, in line with what might be expected in a warmer climate.) With growth and job creation as key priorities to boost the 2020-21 budget, which is helping the Australian economy devastated by COVID-19, the budget will have an underlying cash deficit of $213.7 billion (11% of GDP). There are targeted investment measures in sectors such as medical technology and defence, tax benefits for businesses and incentives for research and development that encourage investment in innovation. In 2018, in its communication on the future EU budget, the Commission proposed to build on the positive experience of integration in the field of climate change and to further strengthen measures to combat climate change in the next eu`s long-term budget. This increase in ambition is supported by Commission proposals to strengthen climate protection in key areas such as agriculture and rural development and external action, as well as to increase the financial resources needed under the LIFE programme. The Commission published its proposals for individual support programmes in May and June 2018 and updated some of them in May 2020. The budget increased the climate-change tax (CCL) on gas from 2022-23, while the price of electricity was frozen. The tax is paid by businesses to cover their energy consumption and the household says that a shift in rates to encourage electricity «will encourage businesses to work in a more environmentally friendly way.» (Sunak`s speech stated that «electricity is now cleaner than gas.») In the new budget, the subsidy is set at $3,000 and does not cover cars that cost $50,000 or more. The carbon letter summarizes below all the important climate and energy announcements in today`s budget: #Flooding is terrible. People want to be alerted, protected and get back to normal quickly.

$5.2 billion is of critical importance. As #climateemergency increases risk, @EnvAgency allows you to invest in #resilience, infrastructure and #naturebasedsolutions to enable communities to thrive. t.co/yiudaYLPAi The budget was expected to provide more detail on how the government would meet its ambitious tree planting targets to help achieve net zero. «This budget does not put the UK on the path to zero net emissions, which is a major problem ahead of COP26,» said Ed Matthew, director of COP26 for the Climate Coalition. «If the UK can`t have its own home, it risks interrupting the climate talks before they start.» Juvenile climate activists have tried to challenge the Chancellor on the way to this morning`s budget primaries in Parliament and asked him to do more to stimulate the economy at a time of climate change.