questionText: To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the potential impact of (a) climate change and (b) new oil and gas production on the economy.
answerText: Illustrative analysis in the OBR'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.For decades, the North Sea’s wor...
heading: Climate Change and Fossil Fuels: Economic Situation