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Lord Hammond: High Earners Accept Rising Energy Costs

10/7/2025

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Summary

Story summary

Lord Hammond warns high earners may accept higher energy costs, but low-income voters will not.
He proposes a 2060 or 2070 net-zero target, claimed cheaper than 2050.
Hammond says the public has been misled about decarbonisation costs amid rising bills; a new consensus questions pace and cost, with bipartisan critics challenging the North Sea oil development ban.

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Story summary

Lord Hammond warns high earners may accept higher energy costs, but low-income voters will not.
He proposes a 2060 or 2070 net-zero target, claimed cheaper than 2050.
Hammond says the public has been misled about decarbonisation costs amid rising bills; a new consensus questions pace and cost, with bipartisan critics challenging the North Sea oil development ban.