United Kingdom

Budget 2021

Legislative

Policy

Passed in 2021

The 2021 Budget, announced by the UK Treasury in March 2021, contained a number of references to net zero targets. Through the budget, the UK's Net Zero target has been made part of the UK Government's "overall economic policy objective" and as a result is to be incorporated into the remit of the Bank of England. The budget also includes plans for a new National Infrastructure Bank with £22 billion of financing and for the issuance of the UK's first green government bond or gilt.

Documents

Full Text PDF (English)

Climate targets in this law

3 targets

Increases in the budget to £13,105M in 2023-24, £25,025 in 2024-5 and £29,735 in 2025-26.

Finance | Target year: 2025
APD rates will rise for the long-haul economy by £2, premium economy and first class by £5 and private jets by £13 from April 2022.

Transport | Target year: 2022
Carbon Price Support Rates frozen at £18/T in 2022-23 and to face additional proposals over 2021.

Finance | Target year: 2023