Oral Answers to Questions

Debate between Ian Murray and Chris Huhne

Thursday 1st December 2011 Commons Chamber

[Chris Huhne]

I simply do not agree with the hon. Gentleman, who argues that consumers will lose out from the measure. If we had not acted quickly to deal with cost overruns in the sector, not only would we not have been able to provide a sustainable future for those who are employed and have businesses in it, but we would have added so substantially to consumer bills that the impact on many other businesses right across the country, through reduced consumer spending, would have been substantial.

[Ian Murray (Edinburgh South) (Lab)]

4. What steps he is taking to assist households with their energy costs.

Oral Answers to Questions

Debate between Ian Murray and Chris Huhne

Thursday 10th February 2011 Commons Chamber

[Chris Huhne]

My hon. Friend is right to highlight that as an important and ongoing issue, and it is one to which we have devoted a lot of attention in the Department. In the short term, the key is that the capacity margin has increased quite comfortably—sadly for the wrong reasons: because of the impact of the recession—but in the long run we are trying to ensure that we pay for capacity through electricity market reforms. That is in the consultation documents that we have tabled, and I believe that it will provide a long-term solution and ensure that we have an adequate margin.

[Ian Murray (Edinburgh South) (Lab)]

T3. The Secretary of State for Business, Innovation and Skills came to the Environmental Audit Committee last week and told us that DECC had been heavily involved in the development of the green investment bank. What input has this Secretary of State had to the formation of the bank? Can he tell the House whether he is in favour of a bank or a fund—and whether the Treasury is pushing him towards a fund in order to keep the scheme off its books?

[Chris Huhne]

There are ongoing discussions between Ministers—[Hon. Members: “Ah!] I would merely make the point to Opposition Members that it is more important to get this right than to do it quickly and get it wrong. With the green investment bank, let us remember that we are looking at an institution that will be crucial in supporting the transition to a low-carbon economy not over a two or three-year period, but over 40 years. If we look back at our economic history, and at similarly massive changes in the way our economy has been powered—for example, the move to coal and then oil, with the internal combustion engine—we see that these things do not happen in a day. Let us get the green investment bank right. That is what Ministers are going to do, and announcements will be made in due course.