Middle East: Economic Update Debate

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Department: HM Treasury

Middle East: Economic Update

John Grady Excerpts
Monday 9th March 2026

(1 day, 8 hours ago)

Commons Chamber
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Caroline Nokes Portrait Madam Deputy Speaker (Caroline Nokes)
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Order. I am planning to run this statement only until 5.45 pm, so I ask Members and the Chancellor to please help each other by making the questions very short.

John Grady Portrait John Grady (Glasgow East) (Lab)
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The root cause of this issue in Britain is our excessive reliance on gas. That is why consumers in Glasgow East pay much more for their energy. The Conservatives had an offshore wind auction with no bids and an onshore wind moratorium, and the SNP is against any new nuclear power stations. Does my right hon. Friend the Chancellor of the Exchequer agree that we must double down on nuclear and on onshore and offshore wind to attack the root cause of our energy costs?

Rachel Reeves Portrait Rachel Reeves
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We are building new nuclear in England and we are building new nuclear in Wales. We would love to build new nuclear in Scotland, but that will be possible only with a Labour Government in Scotland. On renewables, auction round 7 was very successful, and auction round 8 will take place later this year. My hon. Friend is absolutely right: we need to wean ourselves off imported oil and gas and be more secure with our energy supplies here in the UK.