Jobs and Growth in a Low-carbon Economy

Lord Goldsmith of Richmond Park Excerpts

Monday 5th March 2012 Commons Chamber

[Mr Lilley]

As one of the five people who opposed the 2008 Act, I do not necessarily accept my hon. Friend’s premise, but I will for the purposes of debate, and if we are going to meet those targets we should do so as efficiently as possible. Nuclear is one of the best ways, but the cheapest of all is gas turbines, and gas might become cheaper in this country if we exploit the potential for shale gas, which has halved the cost of gas in the United States.

[Zac Goldsmith (Richmond Park) (Con)]

On subsidies, can my right hon. Friend name a single nuclear power plant in the history of the sector that has not existed on the back of vast public subsidies? Has there ever been an unsubsidised nuclear power plant?

[Mr Lilley]

I am not sure whether some of the early ones were subsidised, but nuclear power is more attractive economically—the point that my hon. Friend the Member for Warrington South (David Mowat) made—than some of the very high-cost renewables.

As Harold Macmillan remarked, when both sides of the House are agreed, they are usually wrong. They are wrong on this occasion, they invariably end up scratching each other’s backs and intellectual rigour goes out of the window. It is time that we looked rigorously at what is involved. It may be necessary to do what is under discussion, but we should not kid ourselves that it is going to create an industrial revolution, green growth or green jobs. It is going to cost a lot of money, and we are going to be worse off so that future generations can have a better climate.