(10 years, 10 months ago)
Commons ChamberA number of homes in Clacton and Jaywick have been insulated under the “Insulating Jaywick” scheme using ECO funding, but I am told that the funding is no longer available, work has stopped and many local people who thought they had signed up to the scheme have been left rather disappointed. Will the Minister please meet me to discuss whether any funding may be available and from what source?
I would be very happy to meet my hon. Friend. The message we have tried to give this morning is that the ECO scheme has actually been extended, rather than shortened, and the number of people who will be helped by ECO has grown as a result of the package that has been announced. I would be very happy to discuss specifics with my hon. Friend.
The hon. Lady could not be more wrong. The UK Green Investment Bank, which was introduced and created by this coalition—the Labour Government had 13 years to introduce it, but did nothing—has been going for only a matter of months but in that time it has invested £635 million and mobilised, in total, £2.3 billion. It has £3 billion of capital, which was added to in the last spending round, so billions of pounds for green investment are coming directly from this Government, using our genius for financial services. This Government are pioneering it.
T4. Wind energy subsidies were supposed to deliver a reduction in costs by creating economies of scale and driving technological innovation. After the recent strike price announcements, it is clear that wind turbines work only because they are being given the same level of subsidy as before—subsidy begets subsidy, not sustainability. Does the Minister seriously see a future for wind turbines without subsidy and, if so, when?