(1 year, 8 months ago)
Commons ChamberIt is worth reminding the House that contracts for difference has been a world-beating way of creating the world’s second, third and fourth largest offshore wind farms. There have been some pressures on the previous round, due to inflation because of the war. We will keep the next round in mind.
Can the Secretary of State confirm whether the responsibility for industrial decarbonisation rests with his Department or the Department for Business and Trade?
As with everything in government, we share responsibilities. The clue is in the name—the Department for Energy Security and Net Zero.
(1 year, 11 months ago)
Commons ChamberThank you, Mr Deputy Speaker.
I welcome the announcements made today, which were recommended in my Committee’s interim report on compensation and by many others, and I welcome the appointments of my right hon. Friend the Member for North Durham (Mr Jones) and Lord Arbuthnot in the other place. In respect of the benefit disregards, can the Secretary of state confirm when the statutory instrument will be tabled? It will not take long to do, and it should be done quickly. Can he also confirm that while we are waiting for the benefit disregards to come into force, the victims who suffer loss as a consequence of that will be given additional compensation to cover the deductions from their benefits and pension payments?
I am just taking advice from my hon. Friend the small business Minister on the interim payments, and I think the answer is yes. On the scheduling of the SI, it will be done as quickly as possible in terms of parliamentary business, but that will not hold anything up because the payments have to be made first. They will be well in advance of that, and the commitment is in the statement today to lay the SI. Finally, I pay tribute to and thank the Chair of the BEIS Committee for all his and his members’ work on the subject.
(1 year, 11 months ago)
Commons ChamberI welcome the Secretary of State to his role. May I push him slightly further on the financing of Sizewell C? My understanding is that the Government are committed to spending 20% of the cost, and EDF 20% of the cost. That leaves 60% to be financed from the private sector, which I think means that up to £20 billion of financing still needs to be sourced. What will the Government do if they cannot find that from the private sector?
I thank the hon. Member for welcoming me to the Dispatch Box. As he will know as Chair of the Select Committee, we have been working on the Sizewell deal for quite some time and we got to the Government investment decision stage yesterday. Of course, we have been talking to potential financiers along with EDF and the French Government. We are confident about the level of interest, but I have no doubt that I will come to his Select Committee, along with my right hon. Friend the Minister for Climate, to discuss that in more detail soon.