Offshore Petroleum Licensing Bill

Debate between Edward Miliband and Richard Drax

2nd reading
Monday 22nd January 2024 Commons Chamber

[Edward Miliband]

I do not believe that it fulfils the kind of climate leadership that we pride ourselves on in this country. Here is another interesting fact for the House. UK Export Finance, I think with the guidance of the right hon. Member for Reading West, decided at COP26 that we would not finance oil and gas projects abroad. Now, there must be a reason why UKEF decided that. Presumably, the reason is that we want to make the transition away from fossil fuels. At the same time as UKEF decided not to do that, we will look like hypocrites if we do this by saying, “We’re just going to carry on maxing out at home.”

I know there are a lot of other people who want to speak, Mr Deputy Speaker. We have a Bill—

[Richard Drax (South Dorset) (Con)]

rose—

[Edward Miliband]

Oh go on. That is very tempting, so I will give way to the hon. Gentleman.

[Richard Drax]

I am grateful to the right hon. Gentleman for giving way. He has spoken for an awfully long time and I suspect he is coming to the end of his speech so that Back Benchers can participate. Not one idea has he put on the Floor of the House about what Labour would do were it to take over from us.

[Edward Miliband]

I will tell the hon. Gentleman exactly what we would do. I am really grateful to him for intervening, but I am sorry he has lengthened my speech. We would establish a national wealth fund to invest in British jobs to give a future in steel and automotive, and to invest in our ports. We would set up GB Energy to generate wealth for our citizens. If it is good enough for countries abroad, why is it not good enough for us? We would insulate homes across the country. We would finally lift the disgraceful onshore wind ban that is adding £180 to every family’s bills. That is just the start. I do not want to detain the House for too long, but there is plenty more where that came from.