THE Chancellor’s statement, in The National on Wednesday, that public investment alone cannot beat climate change, may just have explained the UK Government’s recent puzzling contrary actions: on one hand enthusiastically supporting the fight against climate change at COP26, while opening coal mines and oil fields and encouraging more flying in the UK on the other.
If so much more investment is needed to fund the global fight against climate change then the private sector will be ready to step up with its plate held out, offering solutions that will make the most efficient use of these limited public funds.
WATCH: Rishi Sunak heckled by climate campaigners during COP26 appearance
Are we about to see a repeat of PFI schemes where the private sector funds massive investment in home insulation, heat pump installation, even electric cars and transport?
Of course it is simply a coincidence that this will guarantee them a new source of highly profitable, risk-free income for the next 20 or 30 years, just as the majority of the original PFI contracts approach their end over the next few years.
John Jamieson
South Queensferry
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