Nuclear Power: Future Energy Needs

Lord Fox Excerpts

Thursday 17th January 2019 Lords Chamber

[Lord Henley]

My Lords, I am aware of that growth deal, but I do not accept the noble Lord’s suggestion that this in effect scuppers that—I cannot remember what precise words he used. Obviously, it makes life more difficult, and we would not have wished to have to make this Statement, but it is also right that my right honourable friend the Secretary of State looks to the calls on the taxpayer and ensures that we get a good deal for any investment we make.

[Lord Fox (LD)]

My Lords, the Minister said that the market has time to respond. The market has responded. EDF caught a cold and got cold feet, Toshiba has pulled out, Hitachi has pulled out. What is the market in large nuclear generation and what is the Government’s plan B if they fail to deliver the financial engineering, as they clearly are at the moment?

[Lord Henley]

My Lords, in responding to questions of this sort at the Dispatch Box, it is difficult to go into the full details of what was planned. As I said, my right honourable friend the Secretary of State will make a Statement any minute now on the subject—I am waiting for a signal. I would have been happy to have repeated it, but no doubt the noble Lord and I, and others, can discuss it afterwards, and there may be other opportunities to have a wider debate on the subject.