U.K. Treasury Backs $1.3 Trillion Plan to Cut Emissions
- Person familiar says Treasury wants review before signing off
- FT reports Hammond warned PM May on impact on other spending
Smoke rises from a chimney stack at the steel works.
Photographer: Chris Ratcliffe/Bloomberg
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The U.K. Treasury supports a plan to reduce greenhouse gas emissions to zero by 2050, but wants a review before signing off on a policy it estimates will cost taxpayers 1 trillion pounds ($1.3 trillion), according to a person familiar with the matter.