Officials must count the cost of climate inaction to prevent a ‘drastic’ rise in the national debt, Labour has warned.
Pat McFadden, Labour’s Shadow Chief Secretary to the Treasury has called for officials to routinely publish data on the financial impact of failing to take action to hit net zero targets.
It comes after a 2021 study by the Office for Budget Responsibility (OBR) suggested climate change could send the national debt rising by a staggering 300% by the end of the century if no action was taken.
