Energy: Prices and Supply
Lord Houghton of Richmond Excerpts(2 years, 4 months ago)
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Lord Callanan (Con)
I am afraid that I simply do not agree with the noble Lord. A number of aspects of his question were wrong. The Government are not handing money over to energy companies: the money is going directly to consumers—more than £37 billion of expenditure. The noble Lord might think that that is a few pounds, but I think it is a considerable sum of money. Clearly, energy prices are likely to go up again in the autumn, and that is something we will need to return to.
Lord Houghton of Richmond (CB)
Can the Minister reassure the House regarding when energy security last appeared on the agenda of, and was discussed by, the Joint Committee on the National Security Strategy?
Lord Callanan (Con)
I am not a member of that committee, so I am afraid that I cannot answer that question.
Rolls-Royce
Lord Houghton of Richmond Excerpts(4 years, 1 month ago)
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Lord Callanan (Con)
I know my noble friend feels strongly about these matters. The unions are involved in the aerospace growth partnership, which is our main method of engaging with the UK aerospace industry, and we continue to have regular dialogues with Unite and other unions.
Lord Houghton of Richmond (CB)
In the aggregated context of the retention of advanced manufacturing jobs, the pursuit of clean energy, sustainability targets, the Government’s future energy White Paper and the expertise of Rolls-Royce in small modular nuclear reactors, what plans do the Government have to help Rolls-Royce realise its potential as a key contributor to our future national energy requirements?
Lord Callanan (Con)
The noble Lord has correctly predicted that the energy White Paper will be out shortly to provide more details on these schemes. We are extensively supporting Rolls-Royce. It has received £300 million from the Covid corporate financing facility, it has made extensive use of the job retention scheme for almost 5,000 employees, and we are providing it with large amounts in R&D support from the £26.8 million in grant funding for research activities. We think Rolls-Royce is a key company for the future of the UK, and we are supporting it extensively.