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Proceeding contribution from Ed Miliband (Labour) in the House of Commons on Thursday, 23 April 2009. It occurred during Budget debate on Amendment of the law.


Amendment of the law

I was making a very simple point. The money has been allocated for the spending review up to 2010-11, because, as the hon. Gentleman knows, we have three-year spending plans. The Chancellor set out the figures for the future spending review. That is a very simple point. The hon. Gentleman wants to take away money that has already been promised. Let me move on. The second test of the Budget is whether it prepares our industries and our economy for the future. Contrary to what the shadow Chancellor said, significant announcements were made yesterday by my right hon. Friend the Chancellor. Not only were there the first legally binding carbon budgets, which provide a certain framework for industry, but we heard announcements on renewable energy, carbon capture and storage and a range of other things. Earlier today, I made a statement about carbon capture and storage and the role that it can play for Britain, offering a huge industrial opportunity for this country and thousands of jobs. I am sure that the hon. Gentleman has good intentions, but what he has said reflects a difference of view about the role of the Government. We think that it is right to support the emerging industries of the future and that there is a role for public spending as we do that. However, I do not think that that is in the Conservatives' philosophy. I do not think that the shadow Chancellor really believes in it. I think that he believes that markets will take care of it.


Secondary information

Type
Proceeding contribution
Reference
491 c407 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Debts Banks Credit Budgets Finance Financial institutions Economic situation Economic growth Forecasts National income Public expenditure Loans Regulation Economic recession Taxation Budget April 2009 World economy
Link
View this Proceeding contribution on www.publications.parliament.uk