Energy Policy

Owen Smith Excerpts

Monday 25th June 2018 Commons Chamber

[Greg Clark]

With any proposal, it is important to do due diligence and check the basis of the calculations, and in this case, in so doing, as my hon. Friend stated, we found the gap to be so wide that the proposal could not be responsibly backed. As I have said to hon. Members, however, any proposal that is competitive will be welcomed.

[Owen Smith (Pontypridd) (Lab)]

This is another blatantly broken promise to the people of Wales, but I will leave that aside. The Secretary of State has given umpteen speeches talking about the need for this country to invest in new technologies and innovation and lamenting that we have failed to capitalise on great British ideas in the past. Does he not see the huge gap now between that laudable rhetoric and his short-term accountancy decision today?

[Greg Clark]

Part of the assessment, and part of that which Charles Hendry made in this analysis, was of the technology’s export potential, and a great proportion of the global potential is within this country, so it does not have the potential the hon. Gentleman describes. In fact, Charles Hendry concluded that any benefits from the technology would be limited to design and consultancy, rather than substantial industrial benefits.