Net zero targets 'may result in higher taxes'

 Net zero targets may result in higher taxes. The United Kingdom has made significant progress towards achieving net-zero carbon emissions by 2050, but getting there may necessitate higher taxes. According to leading economist Lord Nicholas Stern, both public and private investment in new technologies is required. A former BP executive has also urged the UK to follow the US in encouraging green technology. However, the government stated that the UK is "leading the way" on climate change.    What is net zero and how UK is doing? "We need growth and we need to reduce emissions," Lord Stern told the BBC, "and it's investment in new technologies that will get us there." "I'm not arguing for delaying investment in health and education," he added. We must pursue both at the same time. "If we have to raise taxes a little bit, so be it. If we need to borrow a little more for the truly incredible investments, we should do so." His words