Russian Oil Import Ban Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Mike Kane
Main Page: Mike Kane (Labour - Wythenshawe and Sale East)Department Debates - View all Mike Kane's debates with the Department for Business, Energy and Industrial Strategy
(2 years, 9 months ago)
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Kwasi Kwarteng
I pay tribute to my hon. Friend, who consistently and ably defends his constituents’ interests. The red diesel phase-out was announced two years ago, and I would be happy to talk to him to see how we can manage that transition.
Mike Kane (Wythenshawe and Sale East) (Lab)
To follow on from the question of the hon. Member for Harwich and North Essex (Sir Bernard Jenkin), many businesses, such as aviation, which has a massive impact on my constituency, hedge their future fuel costs, but many will be hugely exposed because they have not hedged those costs. Is the Department doing some analysis of the exposure of such businesses?
Kwasi Kwarteng
The hon. Gentleman raises a critical point. The Department is always looking, particularly at a time of extreme price volatility, at how prices affect the supply chain and businesses. The Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for North East Derbyshire (Lee Rowley), was speaking to energy intensive industries this morning, as I was, and we are fully alive to their plight.