Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-19-Speech-4-221-000"
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"en.20120419.15.4-221-000"2
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"Mr President, immediately before the vote today a friend in the EPP challenged me to say something positive about the economy in Europe. He said he was sick and tired of my explanations of vote always focusing on what we were doing wrong. So let me have a go.
There are a number of positive ways that you can jolt economies into growth. You can cut tax, you can deregulate, you can – paradoxically – make it easier to fire people so that you encourage employers to hire people in the knowledge that they will not be lumbered with employees in the hard times. One thing that always boosts economic growth, in every country and in every age, is cheaper energy. It worked in the Industrial Revolution, it worked in the oil boom. It always causes factory prices to fall; it causes an export boom and it causes people to be able to buy things – with less energy put into it, if you like.
That is why it would be crazy for us, at a time like this, when we are struggling to grow our economies, to burden ourselves with fuel taxes which will depreciate the one thing which is always, literally and figuratively, the fuel of growth.
Here is the good news: here is the upbeat ending. Just as the US has now started to nose out of its decline because of this massive increase in shale gas deposits, so we have the same opportunities in Europe. We have 120 years of gas supplies under the soil and seas of the United Kingdom alone. Energy crisis? What energy crisis?"@en1
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