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Michael McCarthy
March 24, 2011
http://www.independent.co.uk/environment/climate-change/green-measures-carbon-price-goes-up-to-fund-renewables-2251113.html
Two long-awaited steps towards Britain becoming a low-carbon economy were announced by Mr Osborne: the creation of a Green Investment Bank (GIB) and the establishment of a "floor price" for carbon.
Neither received an unmodified welcome, but most analysts think the measures are necessary if Britain is to undergo the sort of green-energy revolution which all parties have endorsed.
The objective is to replace the power stations burning coal, gas and oil – which contribute to climate change through their carbon-dioxide emissions – with renewable energy systems such as wind, solar, wave and tidal power, and also – although Mr Osborne did not mention it, perhaps because of the ongoing Japanese crisis – nuclear.