Autumn Budget as it Relates to Wales (Morning sitting)

Chris Ruane Excerpts

Wednesday 7th February 2018 General Committees

[Alun Cairns]

I absolutely accept my hon. Friend’s point. Ultimately, however, the project must prove to be value for money because otherwise taxpayers will risk paying more than they would for an alternative source of energy, in addition to pushing up consumer prices. Two years ago, we were considering the crisis in Tata Steel, which is adjacent to the proposed site for the Swansea bay tidal lagoon. One of Tata’s core concerns was the rising cost of energy. It is not in anyone’s interest for a project to go ahead that risks driving up energy costs. It is therefore only right that we scrutinise this project to establish whether it provides value for money, as is believed.

[Chris Ruane (Vale of Clwyd) (Lab)]

Hon. Members mentioned delay. There is a chance that the UK could become a world leader in this technology, and if we delay this project we will miss out. We missed out on wind power, but we have a chance with tidal. Four of the six potential sites for lagoons are in Wales, so Wales could become a world leader. The Secretary of State should see the vision and develop the vision.

[Alun Cairns]

The hon. Gentleman is on the record as saying that it is worth paying over the odds for paying for a scheme of this type. If we are paying over the odds, at what level do we stop? What is he prepared to ask his constituents to pay? How much is he prepared to ask his constituents to add to their electricity prices to support such a scheme? I ask him to think long and hard about this. How much over the odds is he prepared to pay?

[Chris Ruane]

Is the Secretary of State aware that we paid over the odds for nuclear power in the 1950s and 1960s, and that in the long term the investment was paid back? Paying over the odds in the initial period will have a long-term payback. We will get energy from this project for the next 125 years, and we will be able to time that energy to the minute. I believe that it is worth investing in, even if it is over the odds in the short term.

[The Chair]

Order. May I say two things? First, if hon. Members are patient, they will get the opportunity to make lengthy speeches themselves. Secondly, if you are not using the translation system, can you switch it off, please, because there is feedback going through the system?