Tidal Range Energy Generation
Debate between John McDonnell and Margaret Greenwood(4 months, 2 weeks ago)
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Margaret Greenwood (Wirral West) (Lab)
I congratulate my hon. Friend on securing this debate, his important work on this matter and his tireless work for the people of Birkenhead. I am sure he will agree that we have an obligation to future generations, and that we urgently need to put in place the infrastructure to power a fossil fuel-free future. Delay is unacceptable and we urgently need to see Government action.
John McDonnell (Hayes and Harlington) (Lab)
I know that my hon. Friend does not want to look backwards, but I do. My first meeting on the barrage across the Mersey was in 2015. If Government had implemented it then, it would be operational now. The trajectory was always going to be that alternative fuel sources would be cheaper than reliance on rising oil prices. It is obvious that that will also be the future trajectory. That is why there is a sense of urgency about this now.
The Economy
Debate between John McDonnell and Margaret Greenwood(8 years, 6 months ago)
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John McDonnell
The Chancellor’s agenda is to shrink the state and privatise most of what is left.
Instead, Labour would seek to use Government powers to invest to deliver world-class infrastructure across the whole country. The northern powerhouse will only become a reality when it is matched by real spending commitments. We would build on our country’s history of science, technology and innovation to deliver real increases in funding for research and development, seeking to match the commitments made by our neighbours; and we would work alongside the private sector to ensure that our businesses, rather than hoarding cash to the tune of at least £400 billion, would be seeking out opportunities to invest in the future. That is the role of a strategic state.
Margaret Greenwood (Wirral West) (Lab)
The Green Investment Bank has been a real success, generating investment in renewable energy projects. In just three years it has invested in 58 projects, committing £2.3 billion of its own money and leveraging more than £10 billion in additional private capital. It has done this despite Government policies working against investor confidence in the renewables energy sector. What are my hon. Friend’s thoughts on the Government’s plan to privatise the bank?