Last October the House of Commons passed, by 463 votes to three, the most expensive piece of legislation ever put through Parliament. The only MP to question the cost of the Climate Change Act, requiring Britain to cut its CO2 emissions by 80 per cent within 40 years, was Peter Lilley. It was also Mr Lilley who, just before the MPs voted to stop runaway global warming, drew the House’s attention to the fact that, outside, London was experiencing its first October snow for 74 years.There is a point at which Statist government policy becomes indistinguishable from genuine madness. The Soviet Union and Nazi Germany both demonstrated that repeatedly. The UK is well on its way to joining that club. Sadly, the U.S. is not far behind.
What made the MPs’ lack of interest in the cost of this Act even more curious was that the Government’s own “impact assessment” showed that, whereas its benefits were estimated at £110 billion, its costs were £205 billion. The MPs thus happily voted for something that would be twice as costly as any benefit.
But these figures were based on the Government’s original plan to cut CO2 emissions by only 60 per cent. A last-minute amendment had this to 80 per cent (a target which can only be achieved by closing down most of Britain’s economy), so our “climate change minister”, Ed Miliband, was obliged to produce new figures. These he has now belatedly slipped out via the Department of Energy and Climate Change website – no thought of reporting them to Parliament – and truly mind-boggling they are. The cost of the Act has nearly doubled, to £404 billion, or £18.3 billion for every year between now and 2050. However, the supposed benefits are given, astonishingly, as £1,024 billion, an increase of 1,000 per cent.
Sunday, April 5, 2009
AGW Inspires Parliamentary Lunacy in the UK
As if the U.S. federal government were not sufficiently unhinged, the British Parliament has decided to up the stakes in the lunacy race. They have voted to hobble their economy to the tune of a couple of trillion dollars over the next 40 years in the name of chimerical anthropogenic global warming.