Oral Answers to Questions

Debate between Blake Stephenson and Ed Miliband

Tuesday 15th July 2025 Commons Chamber

[Blake Stephenson (Mid Bedfordshire) (Con)]

T7. The latest central estimate from the Office for Budget Responsibility puts the cost of achieving net zero by 2050 at £803 billion, with half that cost attributed to lost fuel duties. Does the Secretary of State accept that the Government will need to increase duties elsewhere, including on renewables, which could push bills up further?

[Ed Miliband]

The most significant thing about the OBR report is that it says there is an 8% threat to our GDP by 2070 in a 3°C world, and a 56% rise in the debt to GDP ratio if we do not act on climate change. That is the most important thing from that report, which I recommend all hon. Members read over the summer.

Nuclear Power: Investment

Debate between Blake Stephenson and Ed Miliband

Tuesday 10th June 2025 Commons Chamber

[Ed Miliband]

My hon. Friend makes an important point: across the lifecycle of nuclear and across the supply chain, there are important economic opportunities. The importance of realising that potential is a constant theme of the questions that we have heard today, and that is what we intend to do.

[Blake Stephenson (Mid Bedfordshire) (Con)]

Global tech giants such as Microsoft and Amazon have announced plans to use SMRs to power their data centres, so they have trust in SMRs. I happen to believe that they should be the future of nuclear in this country. I have a couple of questions for the Secretary of State. The announcement states that a new public company, GB Energy Nuclear, will be set up. Will he set out why a new company is required, how much it will cost the public purse, and why it is based in Warrington? I have nothing against Warrington, of course, but why has the decision been made to place the company there? Will he outline when he expects meaningful deployment of the modular reactors?

[Ed Miliband]

The hon. Gentleman asks good questions. On the first, GB Energy Nuclear is a development of Great British Nuclear, which is based in Warrington. On deployment, I am aware of the record of people who promise deployment that is then not delivered, but the truth is that we expect a final investment decision in the next few years, and deployment in the early to mid-2030s—I think that is the fairest way of putting it. I agree with him about the potential. I also agree—this is why I have said that I am open to the role of the private sector—that private sector partners may want to come in and build sooner, and that would be great.