George Stoye

George Stoye

Senior Research Economist

Education:

MSc Economics (Distinction), University College London, 2011
BSc Economics (1st Class), University College London, 2010

George joined the IFS in 2011. His research interests are in the economics of health and healthcare. Current work includes research on inequity in the UK health and social care system, the effect of recent population changes on the quality of public healthcare, and on the impact of choice and competition reforms in the NHS. Previous work includes research on the determinants of domestic energy efficiency in the UK, a review of UK energy policy and topics in development economics.

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Cheaper, greener and more efficient: rationalising UK carbon prices

| Journal Articles

Current UK energy use policies, which primarily aim to reduce carbon emissions, provide abatement incentives that vary by user and fuel, creating inefficiency. Distributional concerns are often given as a justification for the lower carbon price faced by households, but there is little rationale for carbon prices associated with the use of gas to be lower than those for electricity. We consider reforms that raise carbon prices faced by households and reduce the variation in carbon prices across gas and electricity use, improving the efficiency of emissions reduction. We show that the revenue raised from these reforms can be recycled in a way that ameliorates some of the distributional concerns. Whilst such recycling is not able to protect all poorer households, existing policy also makes distributional trade-offs, but does so in an opaque and inefficient way.

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