We’re finding out the price of net zero

Now that the cost of net zero has become a pressing political matter, I have been re-reading the prescient words of Matt Ridley in the House of Lords when, in 2019, he was one of very few who opposed the government’s ‘net zero by 2050’ pledge. ‘I was genuinely shocked,’ he said, ‘by the casual way in which the other place [the Commons] nodded through this statutory instrument, committing future generations to vast expenditure to achieve a goal that we have no idea how to reach technologically without ruining the British economy and the British landscape. We are assured without any evidence that this measure will have, “no significant… impact on business” – but where is the cost-benefit analysis on which this claim is based? Where is the impact assessment?…We are told that the Treasury will run exercises in costing the proposals after we have agreed them, but that is irrational.