Boris and Bidens climate change plan stalled “on a knife edge” after Merkel refuses to agree to new rules.

Today Merkel has refused to agree to new climate change rules leaving Boris and Biden’s plan “on a knife-edge”.

Merkel refused to sign the new agreement due to its hit on the German manufacturing sector and the wider economy. Boris was hoping that the new terms would have been agreed going into the COP26 summit, which is being held in Glasgow in November.

A Treasury source told The Daily Telegraph: “It’s on a knife-edge – it could go either way.”

“But we want to make it work, and if we can get it over the line, it would be a major step forward to getting markets to play their part in the transition – and doing that globally.”

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