Context
The Climate Change Committee published carbon budget 7 with recommendations that include a cost of £319 billion over the next 15 years. The questioner suggests this is why the Secretary of State cancelled his Department’s review.
Question
Among the more eyewatering recommendations was the figure put on the cost of meeting the obligations: £319 billion over the next 15 years. Frontloading that will be a net cost to industry every year until 2050. Is that exorbitant cost the reason that he cancelled his Department’s review, commissioned by his predecessor, into the whole-systems cost of net zero?
Answer from Ed Miliband
I deeply regret the direction in which the hon. Gentleman is going. The Climate Change Committee does incredibly important work. We will look at CB7, but the biggest cost we face as a country is if we do not act on the climate crisis. That is what would leave hundreds of billions of pounds of costs to future generations.
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