Brown takes on 'oil dictatorship'

Last Modified: 05 Sep 2008
Source: ITN

Business leaders are backing Gordon Brown's vow to free Britain from the "dictatorship of oil" with billions of pounds invested in nuclear and renewable energy sources.

In a keynote speech to the Scottish CBI in Glasgow, the Prime Minister promised the Government will do all it can to help families and businesses to pull through the global economic downturn.

Mr Brown said: "Undoubtedly we face a challenging period in the British economy - particularly given our position at the heart of the world's financial markets - and both the Chancellor and I understand the difficulties you face.

"But while never complacent about our economic prospects, I am also cautiously optimistic about the long-term resilience and underlying strengths of the British economy."

He promised further "targeted support" for families struggling with rising food and energy bills.

Mr Brown said that Britain stands to gain as the world economy doubles in size once the current turmoil is over.

But he said the extreme volatility in world oil prices underlined the need for a "revolution" in the way the country used energy resources, reducing its long-term dependence on oil.

"So today I set a new ambition to free Britain from the dictatorship of oil," the Prime Minister added.

He announced the approval of a new offshore wind farm near Walney Island and a major pilot programme for electric cars.

And he held out the prospect of at least one million new jobs being created in the new "green economy" by 2030 if British companies were prepared to invest in low-carbon technologies.

CBI director general Richard Lambert welcomed Mr Brown's speech, saying: "It's good to hear the Prime Minister recognising both the short-term difficulties facing the UK and the long-term strengths of our economy.

"We welcome the emphasis that Gordon Brown placed on the importance of diverse and low-carbon sources of energy."

Mr Brown's speech was well received among sections of the 800-strong audience at Glasgow's Hilton Hotel.

Rona Campbell, assistant director of CBI Scotland, said: "It was clear that the Prime Minister had empathy with the business community in Scotland and across the UK.

"He reminded the audience that the world economy would still continue to grow over the next ten years, but recognised that businesses were facing difficult times.

"He also said there was a job to be done by the business community in tackling the difficult issues relating to carbon emissions and sustainability.

"CBI Scotland members appreciated the comments from the Prime Minister and his realistic approach to the climate in which they are currently operating."

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