Billionaire Tory donor John Caudwell has accused Britain of “dithering on the sidelines” in the global race for green technology.
The founder of Phones4U, the biggest donor to the Conservative party before the last election, has hit out at the Government for its lack of ambition ahead of the spring Budget.
He said: “For too long in the United Kingdom, we have chased short term solutions instead of having a long term strategy.
“This lack of vision has set the UK back time and again – and we are seeing the results now in our energy, infrastructure and economy.
“We are locked into a global race for green technology, where funding, infrastructure and talent are critical to our national prosperity.
“But, as I have argued, Britain is dithering on the sidelines as China, the US and Europe are busy reaping the rewards of this opportunity.
“While net zero targets should spur us to action and to join this race to innovate, create sustainable jobs, and invest in our future, we are instead heading in the opposite direction.
“We are setting back key net zero pledges and creating confusion for industries such as electric vehicle manufacturers – who had invested in the UK on the basis that Britain was serious about its net zero commitments and its desire to be a key player on the global stage.”
Caudwell said in December he was now thinking about switching to Labour instead.
Prime Minister Rishi Sunak last year delayed the ban on new diesel and petrol cars to 2035, watered down plans to strip out polluting gas and oil boilers, and scrapped the requirement for energy efficiency upgrades for homes.
He argued that hitting climate targets should not burden the public.
Mr Sunak’s attendance the United Nations Climate Change Conference COP28 in Dubai last year after he scaled back several pledges designed to help the UK reach net zero by 2050.
He has also vowed to “max out” the UK’s oil and gas reserves by granting new North Sea drilling licences.
Nickie Aiken MP, a member of the Conservative Environment Network, said: “Since the industrial revolution, the UK has remained an economic powerhouse because we have championed innovation.
“Successive Conservative governments have recognised the innovation opportunity from the transition to net zero and put policies in place to ensure the UK also leads the world in the new clean technologies we need to tackle climate change.
“I hope the Chancellor builds on this record with a green, conservative Budget to ensure the UK continues to reap the economic benefits of clean technologies.
“Having confirmed generous capital allowances for businesses investing in efficient clean machinery in the last Autumn Statement, he should reform the tax system to incentivise more households to buy green technologies.
“Cutting stamp duty for more energy efficient homes, and offering a rebate to households that retrofit within two years of purchase, can encourage the uptake of more efficient clean heating technologies in people’s homes.”
