Climate Change

The argument for five years—although it is not for me to make it—is that it aligns itself with the process of the UN framework convention on climate change. There may be an argument for having a three-year carbon budget, which would align itself with the comprehensive spending review, for example, so there is perhaps a debate to be had on the cycle, but I certainly believe that the budgeting approach is much better than simple annual targets, particularly bearing in mind the all-important annual report and assessment provided by an independent committee, as set out in the Bill.