Mad Miliband’s Carbon Capture Will Be Funded From Energy Bills

By Paul Homewood

As we guessed, it appears that most of Ed Miliband’s £21 billion bung to carbon capture projects will end up being paid for through our energy bills.

The Telegraph report that a senior civil servant has revealed that three quarters of the cost will be funded by levies on electric and gas bills. Although this will be spread out over a number of years, the overall cost to households would be over £500 each.

So much for Miliband’s lie that energy bills would be cut by £300 a year!

So far the carbon saving from the first £4 billion tranche of funding is only reckoned to save 2 Mt of CO2 a year.