Tata Group Gigafactory Investment
Debate between Nusrat Ghani and Anna McMorrin(1 year, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Ms Ghani
My hon. Friend is a true champion of her constituency and all the firms within it. I am keen catch up with her now we know we have this fantastic deal and to see what more we can do for the many firms in her constituency. We want to make sure that everybody in the supply chain can be involved in this programme of work as it comes through. We have a number of initiatives, whether it is the automotive transformation fund or the Faraday challenge, to ensure that we are doing everything we can to adopt the new set of technology rules and de-risk any new technology that firms have in place. At the moment we think that that will boost 2,500 small firms, but of course if we can involve any more we will do that, and I look forward to sitting down with my hon. Friend and seeing what more we can do for her constituents.
Anna McMorrin (Cardiff North) (Lab)
Of course this new gigafactory announcement is very welcome, but it has taken time. How will it impact the industrial energy price? The Minister has not answered that question and we know that that price is a barrier to decarbonisation and that addressing it will ensure the transition to net zero and lower energy bills, which needs to be prioritised across all sectors and industries in our transition.
Ms Ghani
As a result of Putin’s invasion of Ukraine and high energy prices, we introduced substantial programmes to give energy-intensive firms the support that they needed. The next phase of that is the energy supercharger, which—as the hon. Lady will know—the Secretary of State for Energy Security and Net Zero has been talking about. We know that energy prices will fall in the near future, and that there will be a change in the mix of energy costs.
Tata came to the UK not only because it is, obviously, the best place in which to build a gigafactory and has a fantastic skillset, but because we could offer competitive energy prices. We have had conversations about that with a number of firms and investors. When energy prices were high and we were dealing with energy-intensive industries, we made sure that we provided the necessary support to protect those firms and their employees.