Politics news live: Global credit diversion could be Rishi Sunak’s budget ‘rabbit out of hat’

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Four days after the start of the COP26 climate change summit, this budget will be forensically analyzed for its “green” appeal, writes Lucy Fisher, deputy political editor for The Telegraph.

New financing frameworks for nuclear plants, more investment in renewable energy, cash for electric vehicle charging points, and a grant scheme for heat pumps are expected to be announced.

But will it be enough? The government is facing pressure from the left to move forward faster. Labor pledged at its party conference to spend four times the amount the Conservative Party has committed so far to the environmental agenda over the next decade.

However, there is an increasingly vocal faction on the conservative right that wants to see the brakes applied to the government’s net-zero plan. Conservative MPs at Net Zero Scrutiny Group are deeply concerned about the cost of the scheme to both the state and individuals.

Rishi Sunak is certainly aware of these cost concerns, but he also knows that failing to decarbonize today would have serious political repercussions. As global leaders and 25,000 delegates prepare to descend on Glasgow this weekend, the budget needs to bolster Britain’s environmental credibility as host of Cop26.

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