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World Leaders Summit

My Lords, speaking from the Independent Labour corner, we must remember that the present problems have arisen because of profligacy in public and private expenditure. People have been offered 125 per cent of the value of their property and private consumption has exceeded the gross domestic product, and that has to be paid for some time. We have to take that into account. I was rather impressed by the remark in the Statement that the world economy will double in size over the next 20 years. The next business is the Climate Change Bill. I am not much in favour of it, but we are not going to be able to meet its targets if we are going to double the standard of living of everyone in the world over the next 20 years. I hope that the Government realise that if that is to be so, we will not have the resources to meet the demand and we will be pushing a lot more CO2 into the air. Will the Minister comment on the hiatus between the Government’s policies?