Source · Select Committees · Public Accounts Committee
Recommendation 1
1
On the basis of a report by the Comptroller and Auditor General, we took evidence...
Conclusion
On the basis of a report by the Comptroller and Auditor General, we took evidence from HM Treasury and HM Revenue & Customs (HMRC).1
Government Response
Not Addressed
HM Government
Not Addressed
1.1 The government agrees with the Committee’s recommendation. Target implementation date: Autumn 2021 1.2 HM Treasury is already playing an active role in supporting the government’s environmental goals, including delivery of the legally-binding net zero commitment. As well as its role in relation to tax and spend policy and the financial services sector, HM Treasury is conducting an analytical review exploring the key issues and trade-offs as the UK decarbonises. Against a backdrop of significant uncertainty on technology and costs, as well as changes to the economy over the next 30 years, the Net Zero Review (NZR) focuses on the potential exposure of households and sectors to the transition, and its final report will highlight factors to be taken into account in designing policy that will allocate costs over this time horizon. 1.3 Work on the government’s overall Net Zero Strategy is being led by the Department for Business, Energy and Industrial Strategy (BEIS), and HM Treasury is closely involved in developing this including to ensure that tax options are considered alongside regulation and spending.