THERE have been some welcome steps in the budget to help the environment but more needs to be done.

That is the view of Philip Dunne, MP for Ludlow and chairman of the all-party environment audit committee.

“As Chairman of the Environmental Audit Committee, I had called for policies to help the UK meet its environmental obligations,” he said.

“The major boost to business investment through a Super Deduction capital allowance for the next two years will help business invest in newer, cleaner, technology.

“While I welcome announcements to develop Freeports and growth hubs including hydrogen projects, limited investment in offshore wind port infrastructure and the lack of VAT reductions for green sectors to drive growth in areas such as energy efficiency represent a missed opportunity.

“On Green Finance measures, I had called for the Bank of England remit to be extended to reflect the transition to net zero Britain, which is very welcome.

“It must now set out before the COP26 summit the steps it will take to reduce the carbon footprint of its corporate bond portfolio.

“ In addition to confirmation of Green Gilts to be issued, launch of environmental retail savings products will help develop the City of London’s leadership in carbon offset markets trading.”

But the MP said more needs to be done.