UK Net Zero Emissions Target - Statement

Part of the debate – in the House of Lords at 4:08 pm on 12th June 2019.

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Photo of Lord Lilley Lord Lilley Conservative 4:08 pm, 12th June 2019

My Lords, I draw your attention to my interest as a trustee of the Global Warming Policy Foundation. The Government have embarked on a policy that will result in one of the most expensive programmes since the introduction of the welfare state, without first carrying out a cost-benefit analysis. Is that not extraordinary given that when the previous target was raised from 60% to 80%, in the Government’s estimates the cost more than doubled? Going from 80% to 100% will certainly more than double it again. The Chancellor believes that it will cost a trillion pounds, which could otherwise be spent on welfare programmes, health and education; the UN climate committee believes it will cost at least twice what the Treasury estimates; and the New Zealand Government have estimated that it will cost five times as much relative to their economy, as has been suggested. Given that, is it not irrational to enter this, as any, policy programme without first estimating the costs and calculating the benefits? Why are we doing it?