(5 months ago)
Commons ChamberIf the shadow Secretary of State wants to say something, I would be happy to allow him, following your advice, Mr Speaker.
I am very grateful to the Minister. Can she confirm that there will be no delay to the Ministry of Defence’s currently planned spending on GCAP this year?
To be clear to Members new and old, this instrument is the legal framework within which the programme will sit. It does not have specific funding recommendations attached to it because it is the scaffolding, or the nest, within which all the work will happen.
This order was laid before Parliament in draft on 23 May 2024. It is subject to the affirmative procedure and will be made by the Privy Council once it is approved by both Houses. Subject to approval and ratification, the treaty will enter into force on the deposit of the last instrument of ratification or acceptance of the parties. That is anticipated to be in autumn 2024 to meet the 2035 in-service date.
This order confers a bespoke set of privileges and immunities to enable the GIGO to operate effectively in the UK. The Government consider those privileges and immunities both necessary and appropriate to deliver on the interests and commitments that the UK has towards the organisation.
(1 year, 9 months ago)
Commons ChamberAt the spending review 2021, we confirmed that since March 2021 the Government will have committed a total £30 billion of public investment for the green industrial revolution. Since then, the Government have made new announcements to provide long-term certainty on our investment plans, including £6 billion for energy efficiency from 2025 and up to £20 billion for carbon capture, usage and storage. The Government will set out further action shortly to support green industries in the UK and meet our net zero 2050 commitment.
Yesterday, the Intergovernmental Panel on Climate Change published its report on the latest data, warning that the world is fast approaching irreversible levels of global heating. Why is the Treasury still giving energy companies an easy ride through lucrative loopholes in the energy windfall tax? The Treasury should be prioritising investments in renewables so that over time, our bills can come down.
This country should be proud of our record, which has seen emissions fall faster in this country than in any country in the G7—down 44% since 1990—but we have to balance that against energy security. Surely, if there is one thing we have learned from what has happened with Ukraine’s invasion by Russia, it is that we need to maximise domestic energy production. The investment allowance in our windfall tax is not a loophole; it is there precisely to incentivise investment so that we maximise domestic energy production.