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Climate Change Bill [Lords]

I welcome the hon. Gentleman's comments in that respect. As he said, the new clause gives the Secretary of State the power to define the limits—[Interruption.] The Secretary of State says from a sedentary position that he has that power anyway. In that case, he should support the new clause and welcome it into the Bill. There should be no dispute across the Chamber. We should make sure that we are giving the clearest possible signals to the industry and to private investors that this is the direction of travel, and that if anyone wanted to invest in a coal-fired power station, they should factor in the cost of carbon capture and carbon storage into the future, or they would be misreading the investment opportunity. I am afraid that that is not the signal being given to the energy industry. The signal that the Government are giving at present is that the industry can get away with it, and that, as the Minister described, by going ahead with very high emissions in some sectors and allowing ourselves headroom within the European emissions trading scheme, we will effectively buy our way out of a high-carbon economy.