Middle East: Economic Update

Ellie Chowns Excerpts

Monday 9th March 2026 Commons Chamber

[Rachel Reeves]

In the spending review last year, I put in £1 billion for the community investment fund in local energy schemes to ensure that communities are more self-reliant for their basic energy needs. That is the lesson from Russia’s invasion of Ukraine, and it is also the lesson from this conflict in the middle east. We need to be more resilient and secure as an economy, and that is exactly what we are doing.

[Dr Ellie Chowns (North Herefordshire) (Green)]

The Iran crisis highlights the urgent need to speed up the UK’s energy system transition to clean, green, cheap renewables and energy efficiency. The last time that energy prices went through the roof due to illegal international aggression, in 2022, normal people paid the price while huge energy giants raked in billions of pounds in windfall profits. Will the Chancellor guarantee that in responding to this crisis, she will do everything possible to protect ordinary households and ensure that no energy company makes profits from this war?

[Rachel Reeves]

The reason we have the energy profits levy and the electricity generator levy is to ensure just that. If the hon. Lady is really serious about energy security and investing in low-carbon energy, I really do not understand why her party opposes planning reforms so that we can build grid infrastructure, as well as both small modular reactors and new nuclear in Suffolk. All those things add to our energy security and reduce our reliance on fossil fuels. Why do the Greens oppose them?