Oral Answers to Questions

Meg Hillier Excerpts

Tuesday 16th January 2024 Commons Chamber

[Bill Esterson (Sefton Central) (Lab)]

6. What recent discussions she has had with businesses on the Government’s net zero targets.

[Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)]

16. What recent discussions she has had with businesses on the Government’s net zero targets.

[The Minister for Energy Security and Net Zero (Graham Stuart)]

I meet regularly with business leaders and chair several groups bringing together Government and industry so that we can drive progress towards net zero. That includes the Net Zero Council, which is meeting next week and includes members from right across the economy. Like me, they are delighted that the UK is leading the world in tackling climate change. We are the first major economy to halve its emissions, ahead of every other major economy, and we have one of the most ambitious decarbonisation targets in the world.

[Graham Stuart]

I thank the hon. Gentleman for his question, which has a sort of comic element given Labour’s monumental failure to deliver renewables when it was in power, coupled with the fact that it wants to bring forward GB Energy. That, as his left-wing colleague, the hon. Member for Cynon Valley (Beth Winter) just said, would be public investment. It would drive out private investment and destroy the transformation of the UK energy system that has happened under the Conservatives—it had flatlined under Labour. We have led the world and have now decarbonised more than any other major economy on the planet. Under the policies of this Conservative Government, which major world economy is predicted to decarbonise fastest by 2030? This one.

[Dame Meg Hillier]

If I may puncture the Minister’s rant, I would like to ask him what certainty his Government will give businesses. We need a £23 billion combined investment from the public and private sectors, but because targets have been missed, that figure will need to double or treble every year between now and 2050, according to a Public Accounts Committee report. The Government’s chopping and changing in delivering what they need to do is a big problem in businesses having the confidence to invest. That has happened on his watch, so what is he doing to improve the situation?

[Graham Stuart]

I thank the hon. Lady for her question and for her work on the Committee in holding the Government to account. Of course, we have realised £198 billion of investment into clean energy since 2010, and we have a plan, which we set out in “Powering Up Britain”. The Labour party has only an intention to borrow £28 billion a year, putting up families’ taxes, putting up bills and destroying the most investable market in Europe that we have had to date. We will have another £100 billion of private investment by 2030, and the Conservatives will carry on our work leading the world in transforming our energy system so that we have lower-cost, home-produced energy while also delivering on net zero—things that signally did not happen under Labour.