Here are the climate-related sections of speeches by MPs during the Commons debate Fiscal Risks and Sustainability Report.
Rachel Reeves (Labour)
The Office for Budget Responsibility’s 2025 Fiscal Risks and Sustainability Report (FRS), which has been laid today—CP 1343—is an important part of the Government’s effective fiscal risk management framework. The report fulfils the OBR’s obligation, set out in the charter for budget responsibility, to examine and report on the sustainability of, and risks to, the public finances. This year’s report examines climate change, the public sector balance sheet, and pensions.
Making Britain a clean energy superpower, which will be achieved through delivering home-grown clean power by 2030 and accelerating to net zero, is a key mission in the Government’s plan for change. Building on previous analysis, the 2025 FRS offers an assessment of the fiscal risks posed by climate change and the transition to net zero, concluding that the UK faces increasing costs from climate-related damage. The Government recognise this, which is why SR 2025 allocates £9.4 billion to carbon capture, usage and storage over the SR period and invests more than £8.3 billion in home-grown clean power through Great British Energy and Great British Energy-Nuclear. We will set out further details in the updated carbon budget and growth delivery plan in October. The Government are also investing more than £4.2 billion over three years, from 2026-27 to 2028-29, to build and maintain flood defences.
[Source]