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Low-carbon Economy

Volume 515: debated on Thursday 16 September 2010

The coalition Government are committed to providing the transparency, longevity and certainty needed for business to invest in the transition to a low-carbon economy. Specific programmes to support these objectives include the green deal for businesses, our proposals to establish a green investment bank, and a commitment to provide more certainty in the carbon price through reform of the climate change levy.

Given the importance of the UK in establishing a strong foothold in the international green economy and the creation of green jobs nationally, is a £34 million cut in funding for low-carbon technology really appropriate?

I am very pleased to tell the hon. Gentleman that, despite the utterly appalling and irresponsible state of the public finances that we inherited from the Labour Government, we are still able to spend £150 million on innovative technologies in key sectors in the current year. What is more, by finding savings elsewhere, we have been able to find £150 million extra to invest in new apprenticeships in key skills, many of which will be in the low-carbon economy.