Coutinho: Rushing into net zero will be ‘incredibly damaging

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Shadow Energy Secretary Claire Coutinho says “rushing” into net-zero will be “incredibly damaging” as Energy Secretary Ed Miliband announces plans to make Britain net zero by 2050 risk costing the country £350 billion more than a slower approach.    Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00This is a very important report because what it shows is that rushing to net zero as Ed Miliband

00:06would do will add something like £350 billion to the cost of our energy system. That's the

00:13equivalent of £500 a household or 0.4% of GDP every single year for the next 25 years.

00:19And the questions we need to ask ourselves are this, can Britain afford to have uncompetitive

00:25energy prices for the next 25 years. And if you're advocating climate change action, you've

00:31got a major problem because we are 1% of emissions, 99% happen elsewhere. And if we continue to

00:37have incredibly high energy prices and if we continue to be punished for that because our

00:42industry is leaving to go abroad, the emissions that are happening elsewhere, that 99%, nobody

00:48else in those countries will want to follow our lead. So even for climate change action,

00:52I think it is incredibly damaging to pursue a policy which makes your energy much, much

00:56more expensive.

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