Harriet Cross

I will use my time to draw attention to parts of the impact assessment, because we are, after all, debating the carbon budget. First, this budget allows for 37% of our energy consumption by 2040 still to come from oil and gas. The Climate Change Committee itself is allowing for oil and gas to be included in our energy mix into the years to come. On that basis, why are the Government still committed to banning new licences in the North sea? Why are they still committed to the energy profits levy? Why are they still stopping the permitting of Rosebank and Jackdaw? All that will do is increase our imports of more carbon-intensive oil and gas, which is not good for the climate, economy or jobs in the UK. That point can also be found in the impact assessment. Secondly, reaching the carbon budget will require an “electrification of industry”. That means a reduction in our industrial capacity. The electrification of steel means a move away from blast furnaces, which will mean we lose our virgin steel capacity. Virgin steel is used for other industries as well, such as defence and civil nuclear, so we are going to hinder our civil nuclear capacity by reducing our virgin steel capacity. Thirdly, the impact assessment—I hope Members have read it, but I am not so sure—says that “a faster transition to renewables will not eliminate global supply chain risks.” It is not true, no matter how often it is said, that reducing our reliance on oil and gas and upscaling renewables makes us less vulnerable to global pressures. It does not. This impact assessment says it does not. We must recognise that everything has a cost and a risk, including renewables. I will bring my remarks to an end shortly, because I do not want to speak for too long. We must be realistic and pragmatic. As my hon. Friend the Member for Broxbourne (Lewis Cocking) pointed out, this carbon budget assumes that we will reduce our meat and dairy consumption by 25%. It assumes that we will put a cost on households of thousands of pounds, which far exceeds any £300 saving on energy bills, were this Government to achieve it. China is not putting these costs on businesses or households, and it is not closing down its domestic industries. China is opening 50 to 70 GW of new coal every year. It has almost 1,200 coal-fired power stations, which it is using to export its renewables technology to us—it does not make sense. China is responsible for over a third of global emissions, and we are responsible for 1%. We are not making a difference to global climate change by impoverishing our businesses, industries and households. We said that we wanted to lead, but there is no point in leading if nobody is following. The key players are not following.