Ed Miliband’s Net Zero obsession is a threat not just to our economy but the survival of Labour’s government
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I HAVE said it before and I’ll say it again: when this Government eventually falls – and that is beginning to look as if it will happen rather earlier than it did a few months ago – its epitaph will be Ed Miliband’s hubristic promise to save us £300 a year on our energy bills by going green.
![[Ed Miliband unveiling Labour's election pledges.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/labour-leader-ed-miliband-unveils-166853442.jpg?strip=all&w=960)
The Energy Secretary has just been slapped down by Bank of England Deputy Governor Sarah Breeden, who admitted on Thursday that far from cutting bills, the Government’s Net Zero policies are driving them up. Half the cost of the fuel bought by our gas-fired power stations last year, she said, was accounted for by carbon levies.
![[Sarah Breeden, Deputy Governor of the Bank of England for Financial Stability, at a press conference.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/deputy-governor-bank-england-financial-953120522.jpg?strip=all&w=960)
Miliband – mocked for his 2015 election stunt setting out pledges on a £30,000 tablet that became known as the EdStone – keeps telling us that fossil fuels are expensive and make us reliant on dictators, who in his mind have the power to determine global prices for gas and oil at will.
Yet the real reason that gas costs so much is that the UK Government is loading it with punitive taxes — not only in the form of consumption levies but also in the form of the windfall taxes which are leading to companies giving up on the North Sea.
And the situation for Britain’s gas supplies is dire. Centrica revealed yesterday that we have less than one week of gas demand currently in storage. The situation has been exacerbated by not just the cold snap but the closing of Russian gas pipeline supplies to Europe at the end of last year.
