3rd UPDATE: UK Osborne Pledges Support For Low-CO2 Technologies - WSJ.com

LONDON (Dow Jones)--U.K. Chancellor of the Exchequer George Osborne said Wednesday the government would provide up to GBP1 billion for a commercial-scale carbon capture and storage demonstration project in a move to create economic growth through the development of low-carbon technologies while also meeting climate change targets.
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"The aim for all of these investments is for Britain to be a leader of a new green economy--creating jobs, saving energy costs, reducing carbon emissions," Osborne told parliament as he laid out sweeping spending cuts to tackle the country's GBP155 billion budget deficit.