Energy: Prices

Lord Harris of Haringey Excerpts

Monday 9th December 2013 Lords Chamber

[Baroness Verma]

My Lords, the noble Baroness is being incredibly complacent if she thinks that making a statement would not have an impact on share prices across the country. Of course, it undermines investor confidence. We need to make sure that people wishing to invest in the energy infrastructure of this country are confident that we will have a stable set of measurements. That gives confidence to investors rather than deters them from coming here. The noble Baroness asked a number of questions about what we are doing to help. We have done an awful lot to help consumers get through the difficult period. Through ECO we have put in many measures to help 230,000 of our most vulnerable households. There are cold weather payments and there will be warm house discounts to help them see out cold winters. This Government are doing a lot to ensure that those who need help will receive it.

[Lord Harris of Haringey (Lab)]

My Lords, is the Minister telling the House that the Government believe that those people with shares in energy companies are right to be confident that Labour will win the next general election? That is the implication of what she is saying. However, I do not expect a detailed answer to that point. Will the Minister say what she thinks will be the impact on police budgets of rising energy costs and whether this will further add to the loss of local neighbourhood policing in various parts of the country?

[Baroness Verma]

My Lords, on the noble Lord’s first question, no, I do not expect his party to win. In fact, I am trying to point out that he and his party ought to be very careful that we do not undermine this country’s great strength in attracting inward investment. Making complacent statements that have no substance puts investors off.