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General Election 2019: Green Party pledges to appoint 'carbon chancellor' | General Election 2019: Green Party pledges to appoint 'carbon chancellor' |
(32 minutes later) | |
The Green Party says it will appoint a "carbon chancellor" to allocate the £100bn per year they have pledged for tackling the "climate emergency" if they are elected to power. | The Green Party says it will appoint a "carbon chancellor" to allocate the £100bn per year they have pledged for tackling the "climate emergency" if they are elected to power. |
Co-leader Jonathan Bartley said the chancellor will lead a new department and issue an annual carbon budget. | |
The party will fund the £100bn pledge mostly through borrowing. | The party will fund the £100bn pledge mostly through borrowing. |
The independent Institute for Fiscal Studies says this will take government borrowing to £140bn. | The independent Institute for Fiscal Studies says this will take government borrowing to £140bn. |
It says government borrowing could be about £55bn this year. | It says government borrowing could be about £55bn this year. |
Meanwhile, Scotland's First Minister Nicola Sturgeon will unveil a "Green Energy Deal" to support investment into energy schemes. | Meanwhile, Scotland's First Minister Nicola Sturgeon will unveil a "Green Energy Deal" to support investment into energy schemes. |
The SNP leader will say that Westminster needs to "get its act together" on tackling long-term energy challenges. | The SNP leader will say that Westminster needs to "get its act together" on tackling long-term energy challenges. |
The Green Party for England and Wales says the new carbon chancellor role will head up the Department for the Green New Deal and the Treasury will become a new Department for Economic Transformation if they are elected on 12 December. | The Green Party for England and Wales says the new carbon chancellor role will head up the Department for the Green New Deal and the Treasury will become a new Department for Economic Transformation if they are elected on 12 December. |
They have pledged that £100bn a year will be spent on tackling the "climate emergency" for a decade - worth £1tn over 10 years - and the party aims to make Britain carbon neutral by 2030. | They have pledged that £100bn a year will be spent on tackling the "climate emergency" for a decade - worth £1tn over 10 years - and the party aims to make Britain carbon neutral by 2030. |
The £100bn pledge will be funded by borrowing £91.2bn a year, with an extra £9bn from "tax changes". | The £100bn pledge will be funded by borrowing £91.2bn a year, with an extra £9bn from "tax changes". |
In other election developments: | In other election developments: |
Explaining the new role, Green Party co-leader Mr Bartley said they needed to "fundamentally change the way government works" if they were going to have "any hope of tackling the climate emergency". | Explaining the new role, Green Party co-leader Mr Bartley said they needed to "fundamentally change the way government works" if they were going to have "any hope of tackling the climate emergency". |
"Every sector of the economy needs to decarbonise if we are to become carbon neutral by 2030," he said. | "Every sector of the economy needs to decarbonise if we are to become carbon neutral by 2030," he said. |
"Only the Green Party has the bold vision and practical solutions to make our economic system work for the people and the planet. | "Only the Green Party has the bold vision and practical solutions to make our economic system work for the people and the planet. |
"A carbon chancellor in 11 Downing Street will mean the prime minister can't even walk out of the front door without thinking about the climate emergency." | "A carbon chancellor in 11 Downing Street will mean the prime minister can't even walk out of the front door without thinking about the climate emergency." |
The government has already committed to cut carbon emissions to net zero by 2050, a move announced by former Prime Minister Theresa May before she left office earlier this year. | The government has already committed to cut carbon emissions to net zero by 2050, a move announced by former Prime Minister Theresa May before she left office earlier this year. |
Reality Check: Where would the £100bn come from? | Reality Check: Where would the £100bn come from? |
By Tom Edgington, BBC Reality Check | By Tom Edgington, BBC Reality Check |
The Greens believe a large public investment, worth £1tn over 10 years, is essential to fight climate change and make Britain fossil fuel free by 2030. | The Greens believe a large public investment, worth £1tn over 10 years, is essential to fight climate change and make Britain fossil fuel free by 2030. |
They say £91.2bn a year would come from borrowing - this would represent a huge hike on current levels | They say £91.2bn a year would come from borrowing - this would represent a huge hike on current levels |
The party justifies this by saying that rates are at "unprecedented historical lows". | The party justifies this by saying that rates are at "unprecedented historical lows". |
Read more on this from Reality Check | Read more on this from Reality Check |
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