(Repost from Tim Loughton MP website)
I have written to Chancellor Rishi Sunak ahead of the Comprehensive Spending Review and Budget due this autumn in support of several measures to tackle climate change and restore nature as part of a green economic recovery from coronavirus.
The UK has a world-leading record on reducing emissions, but we know that we must do more to prevent the worst consequences of climate change and to stop the loss of our wildlife. That’s why I’ve written to the government calling for a series of policies that will help us to build back better. This autumn the Chancellor will be announcing many measures to kickstart the economy as we recover from coronavirus, and I’ve urged him to prioritise measures that will support clean, green industries across the country, helping us to meet our environmental goals while creating sustainable, secure jobs.
Research from the Local Government Association estimates that over 14,370 local jobs will be created by 2050 in West Sussex in low carbon and renewable energy sectors as part of our national mission to reach net zero. A recent study by Oxford University, which included a survey of G20 finance ministers and central bank officials, also showed that green investments could offer the best long-term economic returns for government spending in comparison to normal fiscal stimulus options.
Our submission included ideas such as:
- Establishing a British Development Bank to finance clean and resilient infrastructure projects and to support new green industries across the UK.
- Providing long-term and significantly increased funding for active travel and public transport infrastructure, to build on recent funding commitments to further help tackle air pollution.
- Funding the skills required for net zero and to repair our relationship with nature, by launching a Net Zero Skills Review to help equip young people with the necessary skills for the future low carbon jobs market.
- Providing long-term funding for energy efficiency retrofits that unlocks private finance, building on the Green Homes Grant which opens for applicants in October.
- Supporting green hydrogen with investment in production, storage and distribution projects that can maximise the value from the UK’s world-leading offshore wind sector.
