Written Question·Treasury·UIN 45317

Climate Change: Costs

Tabled: 8 April 2025

Answered: 28 April 2025

Question

Steve Witherden

To ask the Chancellor of the Exchequer, what assessment her Department has made of the cost to (a) the public purse (b) businesses and (c) individual people from climate change.

Answer

Emma Reynolds

Illustrative analysis in the Office for Budget Responsibility's 2024 Fiscal Risks and Sustainability Report suggests that UK GDP could be around 3% lower by 2074 under a below 2°C warming scenario and around 5% lower under a below 3°C warming scenario. Th...

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