PUBLIC FUNDING TO AMELIORATE CLIMATE CHANGE

That this House, knowing that enormous sums of money are necessary to ameliorate climate change by reducing carbon emissions and making public buildings, transport and housing carbon neutral, points out that there is no prospect of raising such sums through taxation and borrowing; and therefore suggests that the time has come to supplement these by using public credit as green credit, particularly since this has fallen from 20 per cent. of the money supply in 1964 to three per cent. today, thereby increasing the budget available for public funding and ensuring economic activities that combat global warming without increasing interest payments whilst producing green growth.