Tackling climate change is one of the most significant long-term challenges the world faces. Budget 2008 sets the foundation for:
• building a global deal to tackle climate change;
• building a low carbon Britain.
It sets a long term target of 80% emissions reductions within an international agreement, consistent with the Government’s objectives for long term sustainable economic growth. Meeting these long-term targets will require us to make deep reductions in emissions across the economy.
The UK is currently working towards a long-term goal of reducing emissions of CO2 by 60 per cent by 2050. The Government announces today that it is ready to move to a long-term target of 80 per cent as part of an international agreement.
