Climate Change

Part of Kew Gardens (Leases) (No. 3) Bill [Lords] (Programme) – in the House of Commons at 5:43 pm on 24th June 2019.

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Photo of Chris Skidmore Chris Skidmore Vice-Chair, Conservative Party, Minister of State (Department for Business, Energy and Industrial Strategy) (Universities and Science) (Joint with the Department for Education) 5:43 pm, 24th June 2019

I thank my hon. Friend for making that excellent point, and he is right. When we consider any impact on wider society of introducing this legislation over the next few decades, while we may see short-term costs from the transformation, we need to look at the investment opportunities that will be created by new green jobs, which are expected to rise from the 400,000 figure he mentions to 2 million by 2030, potentially creating an economy worth over £150 billion in the longer term. It is important that that investment is recognised, because we want the UK to lead the world in future technologies such as carbon capture and storage. The legislation today provides a catalytic moment for us to look at how we can achieve this target and to invest for the future. The Treasury review will lead into the spending review and we will wish to look at how we can continue to invest in clean growth as a technology.