UK’s climate targets will cost less than battling Covid, says OBR

But watchdog warns government that costs will double if it delays action to cut emissions

The UK's climate targets will cost the government less over the next 30 years than the price of battling the Covid-19 pandemic if it acts quickly, according to the UK's fiscal watchdog.

Forecasts from the Office for Budget Responsibility (OBR) show that ending the UK's contribution to the global climate crisis would add 21% of GDP to the national debt by 2050, or 469bn in today's terms. But those costs could climb twice as high if the government delays action to cut emissions.