Labour MPs tell Keir Starmer to cut Net Zero levies on industry or risk killing off Brit manufacturing jobs
They say oil and gas producers in particular are at risk of shutting up shop and being moved abroad because of the barmy rules.
1
The report is a major challenge to the PM's hugely controversial Net Zero policies.
British factories are slapped with massive charges for every tonne of carbon they produce.
But other big countries - including China and the US - have far lower levies or none at all.
In a new hard-hitting report, the Commission for Carbon Competitiveness calls for these levies to be urgently eased to save jobs.
Labour MP Henry Tufnell, chairman of the commission, said: 'We cannot afford to sleepwalk into a future where the UK achieves its climate goals through deindustrialisation, putting vital jobs at risk.
"Britain needs to be able to compete with the big industrial powers, like China and the United States.
'To do that we need a level playing field. That is what this report is calling for.'
They want UK companies to get free credits to produce carbon under the UK's Emissions Trading Scheme, and ignore the threat of legal action by the World Trade Organisation.
Red Wall Labour MP for Grimsby Melanie Onn also backed the report.
It comes after the OBR warned that the government's policy of hitting Net Zero by 2050 will cost an eye-watering £803 billion over the next 25 years.
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Do you make money by regularly switching bank accounts? Get in touch with money@ During the past year, fewer than one in five of us (17pc) switched bank accounts. But, ditching your current account isn't just an opportunity to get better rates or customer service, it can also be an easy way to earn a bit of extra cash. In fact, if you're prepared to keep switching, you could bank up to £715, based on the switching incentives currently being offered by some of the best-known banks and building societies on the high street. Telegraph Money takes a closer look at the offers that are currently up for grabs and everything you need to know to cash in. Which banks are offering a cash incentive? Can I keep churning my current account? What to think about before you switch Which banks are offering a cash incentive? Lloyds Bank: £185 To claim £185 from Lloyds you'll need to switch to a Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum or Lloyds Premier Account. 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Its paid-for Reward account might also be worth considering. It charges £2 a month, but pays £4 a month on two regular direct debits, and £1 a month just for logging on to the app. That alone would leave you £36 up over a year. There's also 1pc cashback when you shop with partner retailers (including Ikea, Waitrose and Morrisons). When will I be paid? Once you have met all the required criteria, you should get £125 paid into your account in 30 days. If you have also opened a regular saver, you'll get a further £50 within 30 days of receiving your £125 payment. First Direct: £175 Switch to First Direct's simple fee-free current account using the Current Account Switch Service and you could be eligible for £175. All you need to do to qualify is transfer two direct debits or standing orders, pay in £1,000 and make five payments with your debit card within 45 days of opening the account. There's no deadline on this offer, but First Direct warns it can be withdrawn at any point. 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However, if you've got the appetite to cash in on these offers, and are prepared to put in a bit of effort, we estimate you could earn up to £715 before next spring by making successive switches. The key is that you haven't switched accounts and claimed an incentive in the past few years as that will usually preclude you from the current range of offers. You also need to be very organised to ensure you meet the criteria required to get the payment and beat the offer deadlines.
