Making Britain a Clean Energy Superpower

Debate between Richard Holden and Mary Glindon

Friday 26th July 2024 Commons Chamber

[Mary Glindon]

Indeed, we certainly need to seize the moment now.

Our determination in this place to raise living standards for working people must be unwavering, and good jobs have their role to play in that. The past 14 years have seen unprecedented levels of wage stagnation. Resolution Foundation data shows that wages returned to pre-financial crisis levels only last year. That decade and a half of lost wage growth has cost the average worker more than £10,500 a year. I thought that there was a one nation tradition among those on the Opposition Benches—an element of the Conservative party that cared about raising living standards for the worst off—but after 14 years the Tories have left us with two nations: one rich, one poor.

As we try to unpick the mess that the Labour Government have inherited, the growth of green industry will be an exciting part of the way forward. I am thrilled that companies seeing the opportunities that Newcastle upon Tyne East and Wallsend has to offer are bringing jobs to the region in the process. The expansion of green hydrogen is just one example of that. During a recent visit, I was amazed at the ambition of GeoPura’s hydrogen project at Siemens Energy in Byker, where it produces hydrogen power units to replace traditional diesel generators. That is an example of the private sector at its best: the sharpest minds coming together to solve some of the biggest problems that we face.

I am proud of the breadth of the energy and offshore sectors in my constituency. That includes the area’s oil and gas industry, which has understandable concerns about its future. We need to think exceptionally carefully about how we shape the sector in the coming years for working people who earn their living from oil and gas.

[Mr Holden]

The hon. Lady and I have worked together closely on some of these issues. Does she accept, as I do, that the Climate Change Committee says that in 2050, even when we have reached net zero, 25% of our energy will be met by oil and gas? It is so important for our energy security that we produce that oil and gas here in the UK.

[Mary Glindon]

That is exactly what the companies are telling me and, as a member of the former all-party parliamentary group on oil and gas, I know it has often been said.

The people working in these industries are worried about how their lives will change if they are not able to adapt to new industries. These are important jobs in our communities, where sweeping job losses are still in people’s memories. In Newcastle upon Tyne East and Wallsend, it is not uncommon to speak to people who were affected or know someone who was affected by the de-industrialisation of the 1980s. The closure of the pits, shipyards and factories ruined people’s faith in politics and the economy for a generation.

The offshore energy sector includes independent oil and gas producers, large integrated energy multinationals, renewable energy companies and a supply chain that we need to keep here in the UK. That includes companies in my constituency, such as Baker Hughes and Peterson, which operate right across the UK and, indeed, the globe. These companies have the vision and ambition, which we all share, to deliver a home-grown energy transition and net zero. Almost £200 billion will potentially be spent over the decade, but the companies investing in nascent opportunities such as floating offshore wind and carbon capture and storage will require the cash flow from a stable and predictable oil and gas business to fund these opportunities.

I welcome Labour’s manifesto commitment to manage the North sea in a way that does not jeopardise jobs. However, I would be grateful if the Minister could set out, in practical terms, how he will safeguard important jobs and investment in communities like mine. Britain’s potential to become a clean energy superpower is not only exciting but necessary. As the Government accelerate this journey, I urge Ministers to ensure that no one is left behind.