Chris Williamson
Main Page: Chris Williamson (Independent - Derby North)
Chris Huhne
Obviously, it is up to the Green investment bank board to make its decisions, but it is clear that it is interested in helping energy efficiency and ensuring that green deal finance gets off to a good start. Let me make it clear how this particular market is structured. Green deal receivables—please excuse me, Mr Speaker, for reverting to financial market jargon—are very similar to utility receivables. As soon as the market is established and we secure a couple of deals, the Green investment bank’s support will become important. The market will then be happy to finance this on terms similar to utility receivables. If it does that, we will be looking at substantially lower interest rates than the ones the hon. Lady has been citing.
Chris Williamson (Derby North) (Lab)
12. What discussions he has had with the Chancellor of the Exchequer on the implications of the autumn statement for investment in energy infrastructure and onshore wind farms.
The Secretary of State for Energy and Climate Change (Chris Huhne)
I have been fully engaged with the development of the infrastructure theme of the growth review, embodied in the accompanying national infrastructure plan 2011 and announced in the Chancellor’s autumn statement. I welcome the inclusion of measures relating to energy infrastructure, including onshore wind. These will help to deliver our ambition for a secure, low carbon and affordable energy system.
Chris Williamson
This was supposed to be the greenest Government ever. The Secretary of State has already undermined solar energy and torpedoed carbon capture and storage. His attempts on the “Today” programme to distance himself from the Chancellor’s autumn statement cannot conceal the fact that his green credentials lie in tatters. Can he explain to the House why he has been so singularly unsuccessful in securing the investment that we so desperately need for a low carbon economy?
Chris Huhne
I think we must have been living in different worlds. The Government’s achievements on the green agenda since the election include electricity market reform, the green deal in the Energy Act 2011 and the pioneering renewable heat incentive. Furthermore, we have brought forward the subsidy review for renewables, which was widely welcomed by the sector, and secured £1 billion for the carbon capture and storage programme. Indeed, yesterday I visited a CCS pilot partially funded by Government money. I think that the hon. Gentleman is overlooking many achievements on the green agenda that do indeed mean that we are on course to be the greenest Government ever.