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A green recovery with a Sovereign Green Wealth Fund

March 22, 2021 4:00 PM
By Rochdale Liberal Democrats
Originally published by UK Liberal Democrats

When Liberal Democrats say put recovery first, we mean creating a fairer, greener, more caring society, and at the heart of this plan is ensuring the recovery is green.

Britain can not only recover but become the world's first green powerhouse."

A recovery that faces up to the existential threat of climate change. We have all seen the warnings. Floods devastating communities across the UK. Fires burning the Amazon and across Australia.

This is a global emergency. The world must act - before the fires burn out of control and the flood levels rise beyond measure. And the UK must lead the way.

While Boris Johnson has recently started talking the talk about climate change, talk is cheap - it's actions that matter.

The Conservatives' actions since 2015 are shameful. Our zero carbon homes law? Scrapped. Our Green Investment Bank? Privatised. Liberal Democrat initiatives on onshore wind, solar power, community energy? All binned by the Tories.

This is a global emergency. And the UK must lead the way."

When Tory Ministers talk about the strong progress the UK has made on climate change, let's be clear: those are Liberal Democrat achievements, delivered by Liberal Democrat Ministers in Government.

There's something else that Liberal Democrat investment has created: a whole new source of green wealth for our nation.

Just last month, an auction for the right to build wind farms off the coast of England and Wales attracted bids far, far higher than anyone expected. Raising nine billion pounds. With more to come.

Green investments really do translate into green wealth. And it belongs to the British people not in the Chancellor's wallet.

Liberal Democrats are putting recovery first - a green recovery to build a fairer, greener country."

That's why Liberal Democrats would invest in a Sovereign Green Wealth Fund.

Liberal Democrats would invest the windfall from wind power into more climate action. Liberal Democrats would create new infrastructure and attract more private investment. Liberal Democrats would grow our green wealth even further, and create thousands of manufacturing jobs here in the UK.

By investing in the green technologies and industries of the future - tidal power, hydrogen, green flight - Britain can not only recover but become the world's first green powerhouse. With a new Green Wealth Fund, we can also invest in an emergency ten-year programme to insulate every single home. That means, lower heating bills for everyone - and an end to fuel poverty.

This is real climate action to slash Britain's carbon emissions. Liberal Democrats are putting recovery first - a green recovery to build a fairer, greener country.