Ed Davey's proposals would involve investing £150bn in the green economy over the next three years, part of a total £350bn post-coronavirus rescue package.
Specific ideas include a so-called green jobs guarantee, giving people training in new, environmental industries such as renewable energy, insulating homes and rewilding projects, paid at least the national living wage. Another pledge would be for at least 80% of energy to be from renewable sources by 2030.
“If unemployment is going up anywhere near what people are saying, this is going to be absolutely essential,” Davey said. “There’s a once-in-a-lifetime opportunity to solve the massive crisis we’re in.”
Properly insulating homes was vital for meeting existing green targets, Davey said, and could rapidly create jobs, with many local authority projects renovating social housing ready to go ahead. This would create jobs in supply chains, and help with those most affected by fuel poverty, he said: “So there’s a big social win there too.”
For rewilding programmes, people could work on areas such as tree-planting and peat bog restoration.
Other areas of the plan include a requirement for at least half of all Bank of England financing to go into green investment programmes, and a new system of government “climate bonds” to raise extra capital. People would also receive tax incentives on savings and pensions for investing in green areas.
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