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Proceeding contribution from David Miliband (Labour) in the House of Commons on Tuesday, 9 December 2008. It occurred during Debate on European Affairs.

European Affairs

I will bring in the right hon. Gentleman after I have set out my argument. The Government are clear that the argument that I have just mentioned would be the wrong response to the slowdown, because only a low-carbon recovery will be a real recovery. Oil prices may have fallen in recent months, but as and when demand picks up they will rise again. The International Energy Agency believes that oil prices will remain volatile for some time, and that by 2030 rising demand could push them to more than $200 a barrel. Unless we act decisively now, we will emerge from the credit crunch only to face a more fundamental resource crunch, which will fuel inflation and act as a brake on growth. That is why the fiscal stimulus package needs to be smart to rebuild the economy on low-carbon lines.

Secondary information

Type
Proceeding contribution
Reference
485 c415 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Armed conflict Banks Coal Climate change Competition Development aid Cyprus Carbon capture and storage Africa EU countries Finance Human rights Energy EU enlargement European Union Industry EU internal trade International cooperation Fiscal policy Government assistance Economic situation Germany EU external trade Economic and monetary union EU economic policy EU emissions trading scheme National security Motor vehicles Public expenditure Peacekeeping operations Politics and government Piracy Poland Overseas trade Standards Terrorism Rule of law Balkans Russia Israel Turkey Kosovo Common agricultural policy Foreign investment in UK Zimbabwe Middle East Bosnia and Herzegovina EU external relations EU aid EU defence policy Georgia Somalia Treaty of Lisbon Kurds South Ossetia Organization for Security and Co-operation in Europe
Link
View this Proceeding contribution on www.publications.parliament.uk