Green Investment Fund

Lord Oates Excerpts

Wednesday 2nd September 2020 Lords Chamber

[Baroness Penn (Con)]

My Lords, the Government take into account both the economic and climate impacts of the aviation sector. As that sector seeks to rebuild after the virus, we need to invest in technologies to ensure that that can be done in a greener way.

[Lord Oates (LD)]

My Lords, does the Minister recognise that the anger of the Extinction Rebellion protesters outside Parliament relates directly to our failure inside Parliament, particularly the gaping chasm between the Government’s rhetoric on climate change and their actions? Will they at least begin to bridge that gap by instituting a comprehensive green investment plan, including investment in green hydrogen and clean battery production, so that the UK economy is not once again left catastrophically behind the curve?

[Baroness Penn (Con)]

I am afraid I have to disagree with the sentiments the noble Lord expressed in that question. We have announced, including in the summer economic update, billions of pounds for a green recovery to support our economy. The evidence from fiscal stimulus packages in response to the global financial crisis showed that green policies can support short-term jobs—indeed, more short-term jobs than traditional stimulus. That is why the Government are investing in a green recovery.