Member

I will be brief in wrapping up, but that last point has nothing whatever to do with climate change; it is about Treasury orthodoxy. Only 30 years ago, the Treasury orthodoxy was that if the Government want to undertake a project, they should finance it through either taxes or borrowing. If through borrowing, the reason was that the Government were always the cheapest and most favourable borrower in the market. They could borrow more cheaply than the private sector could. Why have we determined to outsource this funding requirement, when we admittedly know that it would cost us more than if the Government were to do it themselves?