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Climate Change

Volume 450: debated on Wednesday 11 October 2006

To ask the Chancellor of the Exchequer when he expects to receive the final report of the review of the economics of climate change prepared by Sir Nick Stern. (89491)

The final report of the review on the economics of climate change will be published in Autumn 2006.

To ask the Chancellor of the Exchequer what recent assessment he has made of the impact the climate change levy has had on business; and what recent discussions he has had on this subject. (89730)

The Government published an independent evaluation of the climate change levy (CCL), “Modelling the Initial Effects of the Climate Change Levy,” by Cambridge Econometrics at Budget 2005 which is available at www.hmrc.gov.uk. The evaluation concluded that the CCL package is expected to deliver emissions savings of over 3.5 million tonnes per annum of carbon by 2010, and with the accompanying reduction in national insurance contributions, to reduce overall unit costs for business by 0.13 per cent.