(4 years, 10 months ago)
Lords ChamberThe important thing to stress is that the EU has not yet determined Horizon Europe and the most important sticking point remains the budget. It is the Government’s commitment to have an association agreement to ensure that scientists and all within that area going forward are able to participate fully and are able to get full value for money, just as the EU will get full value from us through such an association agreement.
My Lords, my noble friend may be anticipating that Horizon Europe’s budget, as it is discussed in the year ahead of us, may well be less than €100 billion. There are many stories suggesting that it will be in the region of €88 billion to €90 billion. The question then is whether in the course of the months ahead we should be seeking participation in Horizon Europe on the basis that the funds that we provide—I think we have provided about 11% of the funds of Horizon 2020—would be additional to what the European Union commits from its own budget, thereby getting Horizon Europe potentially back to €100 billion in total.
My noble friend is absolutely right. We have been a vital participant in the Horizon programmes and their predecessor framework programmes. There is no doubt that going forward our participation will make them work better, and the negotiations must therefore deliver against that objective.
(4 years, 11 months ago)
Lords ChamberThe noble Lord is quite right: each of our ambitions in these areas has a finite lifespan, and it is important to make sure that, each time we replace them with the next generation, the carbon footprint decreases. We would like to see it significantly decrease, which is why offshore wind remains vital and why nuclear has a significant part to play.
My Lords, the Wylfa project on Anglesey has been suspended, as we have heard. Would my noble friend agree that it is clear that Governments will need to invest in new nuclear? Will the Government look at promoting that project with Hitachi through a government commitment to invest sovereign capital, thereby reducing the cost of capital and offsetting some of the risk?
(5 years, 3 months ago)
Lords ChamberThe noble Lord is right to rejoice in the success that Wales has had in pumped storage. There are moves afoot on the part of a number of companies to expand existing hydro plants. The future is of course dependent on how we can mitigate some of the costs involved in such large-scale projects, but they will fit into both categories if we can find the right balance of incentive to encourage these sorts of developments.
My Lords, the Question relates to the resilience of nuclear electricity generation. Given the relative lack of progress beyond Hinkley in renewing the nuclear fleet and its possible contribution to that resilience, what progress are the Government making on the introduction of more small modular nuclear reactors for electricity generation?
My noble friend is right to remind us that not all nuclear reactors need to be on a large scale. Small modular reactors certainly have a place in our strategy. We are putting forward up to £80 million to develop this kind of technology, to help us to tackle the issue. It will help us to make a substantial difference to our climate change initiatives.