The full text of business secretary John Hutton's speech to Labour Party conference in Manchester on Monday September 22, 2008:
Conference,
Every family in Britain is aware of the real economic challenges facing our world.
Monumental upheaval in global financial markets.
Rising food and fuel bills.
We owe it to the British people, who have put their trust in us at 3 successive General Elections, to show we can rise to this challenge.
As our Prime Minister has said, we will do whatever it takes to ensure our country passes this economic test.
We can have confidence in the framework for stability - set by Gordon Brown - that has made our country so much stronger and fairer than it was 11 years ago.
Together, we've matched economic success with fairness in the workplace.
Some people give the impression life hasn't got better for working people under New Labour.
But we can be proud of our record.
In the last year alone we've agreed new protections for agency workers. And, as our policy document makes clear, we will take forward the agreement in Europe on working time - providing new safeguards whilst preserving people's ability to work overtime if they choose to do so.
We've extended flexible working.
New measures on the minimum wage so low paid workers can keep the tips customers leave them.
And - ten years on from passing the act that introduced the first ever national minimum wage - we're providing more resources to crack down on rogue employees.
We've struck the right balance. Addressed the n eeds of Britain's businesses, large and small. So that increased protection in the workplace has not been paid for by fewer jobs as our opponents have always claimed.
We have taken this balanced approach because we know how important wealth creation is to Britain.
Not something that should ever be taken for granted or put at risk.
And that is why this Government will always look to create the best possible conditions to ensure British companies can succeed, in whatever markets they operate, no matter what other pressures we face.
But confidence in the foundations we have laid will not be enough.
We need to adapt to this rapidly changing economic landscape with fresh ideas and renewed vigour in the months ahead - supporting our enterprise culture, helping more small firms succeed, and backing British manufacturers.
Our ambition must be more than weathering the economic storm unsettling the world.
We mu st make the changes now so we emerge stronger and fitter. Better able to compete in the years ahead.
It is why, as Alistair will set out this morning, we are taking steps to respond to the financial challenge gripping many western economies.
Emerging stronger and fitter to seize the new manufacturing opportunities in the green economy and global markets of tomorrow.
In this job I've seen at first hand the talent and creativity that makes us one of the top manufacturer nations in the world. 50% more productive than a decade ago.
A million new green collar jobs up for grabs.
And we can take them. In Scotland - despite the best efforts of the Nationalists; in my own region of Cumbria; and in great manufacturing centres like Sheffield, where last week I saw Forgemasters and others determined to gear up for opportunities in new nuclear.
But above all, our ability to emerge stronger and fitter means d ealing with one of the most important threats to our long term competitiveness. Indeed, our sovereignty as a nation.
And that is the new international battle for energy security.
Affordable, reliable energy is the bedrock of our economic competitiveness. A pre-condition for fairness and social justice in our society.
As our stocks of oil and gas decline, Britain is becoming a net importer of energy.
Where 80 per cent of our gas supplies are predicted to come from overseas by 2020. Much of it from the most unstable regions on the planet.
And as global energy demand surges, the competition for resources will become more, not less, intense.
Countries picked off, exploited, forced into new energy alliances. Pushing up prices here at home.
You only have to look at events in Georgia this summer. Or feel the impact of the incredible volatility in crude oil prices.
So, in response to this new reality abroad, we must set a clear course at home.
To put UK energy security at the centre of our plans for Britain's economic future.
To make it a first thought, not an afterthought.
Because the battle for energy security will define the fight for Britain's future.
To put the brakes on our growing reliance on imported gas.
And never be indifferent to how much energy we produce here at home. Helping us in the fight against climate change.
The next decade will mean a new era for renewable energy in the UK with a seven-fold increase in clean energy from our abundant natural resources, on land sea and air.
It means a renaissance in nuclear power.
Low carbon, reliable, secure.
All of this will take investment on a huge scale. And we're in a tough fight to bring that investment to Britain.
Billions of pounds that will make the difference to our nation's energy security. To our economic prosperity.
Billions of pounds that could of course go elsewhere unless we are careful. Unless we ensure the right climate for energy companies to invest here in the UK.
And because energy security is a first thought, not an afterthought, I will not turn my back on another critical energy source for the UK: coal.
I understand people feel passionately about this issue. Others, like the Tories, see an opportunity for pandering.
But coal is a critically important fuel for the UK. Flexible. Available. Reducing our reliance on imported gas.
Some people claim that consenting new coal fired power stations would make our climate change targets unachievable. But the inconvenient truth is that our carbon emissions are capped by EU agreements. Additional emissions have to be offset by reductions elsewhere.
So stopping the building of new coal fire power stations would make no difference to the UK's total carbon emissions, but it would, I believe, damage our energy security.
So there is no sense in our turning our backs on coal. Let's keep cleaning it up, not ruling it out.
No one can really claim this Government doesn't take its climate change responsibilities seriously. We do. That's why we are developing the first commercial scale carbon capture and storage project in the world.
But making Britain fitter and stronger means being prepared to take the difficult choices, not pandering to fashionable causes.
To meet Britain's energy needs of the future we will need all of the technology and the investment available to us.
In nuclear, renewables, gas, coal and the power grid itself.
And what about our opponents?.
Tories say no to new coal and have sent mixed messag es on nuclear.
The Liberal Democrats say no to new coal and new nuclear.
But no coal plus no nuclear equals no lights. No power. No future.
We need to make sure that the choice for the country in the months ahead is equally simple.
Leadership for the long term challenges facing Britain with Labour, or posturing and economic risk under the Conservatives.
In these times of change, it is our values of fairness combined with our determination to do what is best for our country that can help us steer the right course.
Success and fairness at work.
Success and fairness in our markets.
That's a goal that will unite all of us here today and provide security for all our families now and in the future.
