Jacob Rees-Mogg warns over 'huge cost' of net zero drive

The “huge regulatory cost” of Boris Johnson’s drive for net zero will hold back plans for a post-Brexit bonfire of red tape, Jacob Rees-Mogg has warned.

Speaking at an event organised by the Centre for Policy Studies, Mr Rees-Mogg said: “Net zero is going to be a huge regulatory cost and that is an issue for the country to face and to face up to.

“If we were to have a ‘one in, one out’ or ‘one in, two out’ rule, you would end up excluding net zero, as we previously excluded EU regulation, and then you’re tinkering at the edges because you’re ignoring the biggest piece of regulation.”

The comments are the latest sign of nervousness about the economic impact of the net zero drive from some within the Cabinet and sections of the Tory Party.

He added that keeping the costs of the net zero push as low as possible is “fundamental”, saying it should be driven by technological innovation rather than “endless regulation”.

Mr Rees-Mogg said he wants the £1bn “Brexit freedoms” red tape target to be a “minimum” and will soon release a list of 1,500 rules left over from the EU that could be cut.

Read more in The Telegraph here.

Date Added: Friday 6th May 2022