Jerome Mayhew
Main Page: Jerome Mayhew (Conservative - Broadland and Fakenham)(3 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text
Madam Deputy Speaker (Dame Rosie Winterton)
I remind Members that we must have short questions and answers, because we have two very well-subscribed debates this afternoon, and we only have 20 minutes put aside for this session, which means we have about five minutes left.
Jerome Mayhew (Broadland) (Con) [V]
I will do my best, Madam Deputy Speaker. The Committee’s report highlights the evidence from the Bank of England that we will need a carbon tax of about $100 per tonne by 2030 for a smooth transition of the economy to net zero. If we want to prevent large-scale offshoring of our industry and support the growth of low-carbon manufacturing here in the UK, we will need a scheme of carbon border adjustment. The EU and the USA are already working on this policy, which is both a good and a bad thing. Does my right hon. Friend agree that our presidencies of both the G7 and COP26 are an unmissable opportunity to lead an international approach to carbon border adjustment, rather than risk the imposition of piecemeal protectionist carbon barriers by individual trading blocs, with us on the outside?