Matthew Pennycook
Main Page: Matthew Pennycook (Labour - Greenwich and Woolwich)Department Debates - View all Matthew Pennycook's debates with the HM Treasury
(3 years, 1 month ago)
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Mr Clarke
The hon. Gentleman has referred to the contracts for difference mechanism, which has been hugely successful in helping to drive the improved economics of technologies including offshore wind. I think that we as a country should be very proud of that, especially in the week of COP.
There is no doubt that there are exciting opportunities for young people. I think that the Department with which the hon. Gentleman would do best to engage on that is the Department for Business, Energy and Industrial Strategy, but I am always happy to have any conversations that would be useful in this regard.
Matthew Pennycook (Greenwich and Woolwich) (Lab)
Mohammad Yasin (Bedford) (Lab)
The Financial Secretary to the Treasury (Lucy Frazer)
As 120 world leaders gather in Glasgow today, the hon. Member for Greenwich and Woolwich (Matthew Pennycook) asks a very pertinent question. Our net zero strategy outlines measures to enable us to make the transition to a green and sustainable future. As for fiscal measures, the Budget and spending review commit us to £30 billion of public investment towards net zero.
Matthew Pennycook
There is an obvious and pressing need for all fiscal announcements to be fully aligned with our country’s net zero target. To that end, will the Minister commit herself to at least the publication of the estimated emissions impact of decisions in future Budgets and spending reviews?
Lucy Frazer
The hon. Member will know that in our Budget we set out a number of measures to enable us to make the transition to a net zero world. We have made announcements relating to transport and warmer, greener buildings as well as energy and industry, and of course the Treasury always considers the impact in relation to net zero targets.