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General election 2019: Lib Dems pledge £100bn climate fund over five years | General election 2019: Lib Dems pledge £100bn climate fund over five years |
(about 20 hours later) | |
A Liberal Democrat government would spend £100bn tackling the effects of climate change and protecting the environment, the party's deputy leader has announced. | |
Sir Ed Davey said the five-year investment would "jump-start" efforts to combat the "climate emergency". | |
The pledge would be funded through borrowing and tax changes, to be set out in detail in the party's manifesto. | |
The Conservatives and Labour both have targets to reduce carbon emissions. | The Conservatives and Labour both have targets to reduce carbon emissions. |
Sir Ed, who served as secretary of state for energy and climate change in the coalition government, said his party would "decarbonise capitalism" if elected. | |
He said a Lib Dem administration would be a "government of business" by stopping Brexit, increasing investment in infrastructure, and promoting new green jobs. | |
Speaking in Leeds, he also pledged his party would build a new tram or metro system in the West Yorkshire city. | |
Sir Ed, who is also the party's finance spokesman, said the climate investment would include a new £10bn "renewable power fund" to leverage more than £100bn of extra private climate investment. | |
"This will fast track deployment of clean energy, to make Britain not just the world leader in offshore wind, but also the global number one in tidal power too. | |
"And we will invest £15bn more to make every building in the country greener, with an emergency ten-year programme to save energy, end fuel poverty and cut heating bills." | "And we will invest £15bn more to make every building in the country greener, with an emergency ten-year programme to save energy, end fuel poverty and cut heating bills." |
The party said the policy would be funded through £85bn of borrowing and £15bn raised through tax changes, which will be detailed in its manifesto. | The party said the policy would be funded through £85bn of borrowing and £15bn raised through tax changes, which will be detailed in its manifesto. |
Sir Ed also attacked the "fantasy economics" of Prime Minister Boris Johnson and Labour leader Jeremy Corbyn, claiming that the spending plans unveiled by the two parties represent a "debate between fantasies". | |
"Fantasies born of nostalgia for a British Imperial past. Competing with fantasies from a failed 1970s ideology." | "Fantasies born of nostalgia for a British Imperial past. Competing with fantasies from a failed 1970s ideology." |
'Remain bonus' | |
He said his party would not do any kind of deal with Mr Johnson or Mr Corbyn if no party wins a majority on 12 December. | |
But he said they would vote "issue by issue" with a minority Conservative or Labour government, in an effort to make them more "moderate". | |
"What we will not do is have a coalition or have a supply and confidence relationship, because we think these parties have become too extreme," he said. | |
He also repeated his claim that stopping Brexit would deliver a £50bn "Remain bonus" for public services, due to better economic growth. | |
BBC Reality Check correspondent Chris Morris said the vast majority of forecasts do expect the economy would be bigger if the UK were to stay in the EU. | BBC Reality Check correspondent Chris Morris said the vast majority of forecasts do expect the economy would be bigger if the UK were to stay in the EU. |
But he added the size of that "bonus" cannot be predicted with any certainty, and £50bn was not a hugely significant amount in terms of overall government expenditure. | But he added the size of that "bonus" cannot be predicted with any certainty, and £50bn was not a hugely significant amount in terms of overall government expenditure. |
The Lib Dem climate pledge follows the Green Party's promise to appoint a "carbon chancellor" to allocate £100bn per year towards climate change. | The Lib Dem climate pledge follows the Green Party's promise to appoint a "carbon chancellor" to allocate £100bn per year towards climate change. |
Labour has announced it would make all new-build homes "zero carbon" by 2022, as well as reducing the UK's carbon emissions by 10% through a huge home improvement programme. | Labour has announced it would make all new-build homes "zero carbon" by 2022, as well as reducing the UK's carbon emissions by 10% through a huge home improvement programme. |
The Conservatives have announced a halt to fracking, the controversial process of extracting gas from shale rock, and, in government, the party set a target of "net-zero" carbon emissions by 2050. | The Conservatives have announced a halt to fracking, the controversial process of extracting gas from shale rock, and, in government, the party set a target of "net-zero" carbon emissions by 2050. |
Labour, the Lib Dems, the Scottish National Party and the Green Party have called for a live TV debate on climate change before the 12 December election. | Labour, the Lib Dems, the Scottish National Party and the Green Party have called for a live TV debate on climate change before the 12 December election. |
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