Oral Answers to Questions

Debate between Claire Coutinho and Nick Smith

Tuesday 28th November 2023 Commons Chamber

[Claire Coutinho]

We have taken energy prices going up incredibly seriously, which is why we have spent £104 billion protecting the British people. That is one of the most generous packages anywhere in Europe. If the hon. Member cares about the incomes of people in Scotland, I suggest that he backs British oil and gas jobs.

[Nick Smith (Blaenau Gwent) (Lab)]

2. What recent assessment she has made of the impact of the US Inflation Reduction Act on levels of investment in low carbon industries in the UK.

[The Secretary of State for Energy Security and Net Zero (Claire Coutinho)]

In the UK, we have seen nearly £200 billion-worth of investment in low carbon sectors since 2010. That is 50% more than the US as a share of GDP. At the global investment summit just yesterday, it was clear that businesses see Britain very much as open for business, and that was backed up by £29 billion-worth of investment.

[Nick Smith]

In the summer, I heard about President Biden’s plan to use America’s industrial might to power up New York using offshore wind. Given that we need to turbocharge the green economy, why will the Government’s response to the Inflation Reduction Act not come into effect until 2025?

[Claire Coutinho]

We have taken many steps already. We have set out new plans for auction round 6 of renewable energy and for permanent economy-wide full expensing. We changed planning, and we are unlocking the grid. The fund that the hon. Member mentioned will unlock supply chains across the UK. What have people said? Scottish Renewables has said it is

“a shot in the arm for the sector”.

The Offshore Wind Industry Council has said that it will help us retain our position as a “global leader”. It has been welcomed by Make UK, Energy UK and many other businesses as well.