LibLink: Vince Cable – making the transition to low carbon economy

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LibLink: Vince Cable – making the transition to low carbon economy

By NewsHound | Mon 5th November 2012 - 3:53 pm

Writing in the Telegraph, Vince Cable says that a green economy is fully compatible with a competitive and efficient manufacturing industry:

Green sectors have outperformed the wider economy since the economic downturn. The UK share of the global Low Carbon Environmental Goods & Services market was estimated to be more than £122 billion in 2010/11 – the sixth largest in the world, and growing at approximately five per cent a year. The UK is the largest single market for offshore wind in the world, and we are currently leading the world in terms of marine energy devices and installation development.

You can read Vince’s article in full here.

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One Comment

Richard Dean 6th Nov '12 - 11:17pm

There has to be a BUT doesn’t there? Here it is, a long way down the Telegraph article:

However …The policies … to support low carbon investment have the impact of raising electricity prices … We estimate that energy and climate change policies will add up to 28 per cent to electricity costs … in 2020. ….increases in the cost base directly impact on the profitability of industry and, therefore, the ability of companies to invest

In other words, green policies risk crippling our major industries. Ain’t that just lovely, a real BUT! A real lesson in spin from Cable the Master Spinner!

Will the “£250 million package” mentioned later be enough to prevent industries going under? It looks rather too small to me!