UK Modern Industrial Strategy
Debate between Mike Martin and Jonathan Reynolds(5 days, 9 hours ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mike Martin (Tunbridge Wells) (LD)
There is much to like in the statement. I particularly like the reduction in energy costs of between 20% and 25%, but I would like to push the Secretary of State a little on that; so that industry can plan, when does he think those 25% reductions are going to happen?
Jonathan Reynolds
Madam Deputy Speaker, my hon. Friend the Minister for Data Protection and Telecoms has just told me that it is £141 million, not £41 million, to put wi-fi on the trains. It has been quite an exciting day, but it is important that I put that on the record.
Energy prices are one of the fundamental parts of the strategy. As I say, the supercharger can be put in place by the financial year 2026-27; the British industrial competitiveness scheme will have to follow a longer process, including a legislative process, so that would happen in the financial year after that. I know how important this is, but once those plans are in place, businesses will have the certainty that that is the cost that they will face, and they can make their business plans and any investment decisions based on that.