Martin Vickers
Main Page: Martin Vickers (Conservative - Brigg and Immingham)Department Debates - View all Martin Vickers's debates with the HM Treasury
(1 day, 8 hours ago)
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Rachel Reeves
We made changes to the national policy planning framework a few days into this Government, and at the end of last year we passed the Planning and Infrastructure Act 2025, which makes it easier to build a range of infrastructure from housing to data centres and, crucially, energy infrastructure. That Act was opposed by the Opposition parties, who need to explain why they are against building the grid connections that will help us to benefit from cheaper energy.
Martin Vickers (Brigg and Immingham) (Con)
I agree with the Chancellor that de-escalation is desirable, but this conflict is likely to go on for many months. She talks about reducing our reliance on fossil fuels, which I agree with, but businesses are operating in the here and now, and they want reassurance. Forget the 500 businesses that will benefit from the supercharger scheme; what message can she give to medium-sized businesses that are very concerned and are having to lay off staff?
Rachel Reeves
I recognise the concerns about businesses. As well as the supercharger, the British industrial competitiveness scheme is coming in next year, and we are monitoring the situation carefully to see what else might be necessary. De-escalation is so important. There is no reason why this conflict has to go on for months and months—nobody wants that, it is in no one’s interest, and we must quickly get vessels flowing through the strait of Hormuz. That is why I am meeting Lloyd’s of London later today, to work through what insurance products can be introduced, and it is why G7 Finance Ministers talked on the call this afternoon about how we can guarantee the safety of vessels flowing through the strait.