(11 years, 9 months ago)
Commons ChamberThe right hon. Gentleman was a distinguished Home Office Minister under the previous Government, so he will know that when the Government take on major challenges, such as the one I have described, it is not, of course, an easy road to tread. The Government’s determination to reform our electricity market and introduce the changes necessary to guarantee our energy security is, by any comparison—certainly in comparison with the Government of whom he was a part—profound, valued and welcomed by the vast majority in the industry.
One technology that could make a huge difference in this area is anaerobic digestion. I have had discussions with companies in the field, and despite interest from the green investment bank they report that they are still having difficulty in accessing finance. What more can the Minister do to help with that problem?
It is critical that both the cost and availability of capital underpin the investment I have described, and that is particularly true, as the hon. Gentleman says, for small and medium-sized enterprises. We are working on that with the Department for Business, Innovation and Skills—my former Department—but given that he has raised the matter in this way, I will look at it again and report back directly to him.
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The Prime Minister, as the hon. Gentleman knows, comes to this House weekly to be scrutinised by this House. Does he give me notice of every answer and does he get notice of every question? Of course the answer is no. If the hon. Gentleman is asking me whether we were considering these matters—whether I was considering them and whether the Secretary of State was considering them—and whether they were being debated as part of the consideration of the Energy Bill following the scrutiny by the Select Committee and others, the answer is a definitive yes.
In meetings I have had this week, major green investors were already complaining about perceived political noise around green investment. Does the Minister agree that if uncertainty is the enemy of investment, surprises such as yesterday’s are even more unhelpful?
The fundamental objective of the strategy I outlined is to bring clarity. Clarity is the prerequisite of certainty, certainty is the prerequisite of confidence and confidence is the prerequisite of investment. That, in a nutshell, is where the failure of the previous Administration lies.
(14 years, 4 months ago)
Commons Chamber11. What recent steps he has taken to increase access to finance for small businesses.