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The government has published the impact assessment of the bill which states that the bill will cost anywhere between 拢30bn and 拢205bn, while the financial benefits are calculated between 拢82bn and $110bn.

The Climate Change Bill has committed the UK government to reducing carbon emissions by 80% by 2050.

In an article on the BBC website, Lilley said: 鈥淲e all want to save the planet from overheating, just as we all want to save the financial system from meltdown. We accept that both rescues may cost us a lot.

We all want to save the planet from overheating but a democracy should at least debate the cost, compare it with the likely benefits and consider whether we can achieve the same ends at less cost

Peter Lilley, MP

鈥淏ut a healthy democracy should at least debate the cost, compare it with the likely benefits (or costs of doing nothing) and consider whether we can achieve the same ends at less cost.鈥�

Lilley also questioned Ed Miliband鈥檚 decision to up the initial target of 60% to 80% as it had increased the costs by 鈥渁t least a third鈥�.

The Climate Change Bill is expected to be granted Royal Assent on Thursday.