Paul Flynn
Main Page: Paul Flynn (Labour - Newport West)
Anas Sarwar (Glasgow Central) (Lab)
2. What assessment he has made of the effects on growth of green investment; and if he will make a statement.
Paul Flynn (Newport West) (Lab)
4. What assessment he has made of the effects on growth of green investment; and if he will make a statement.
The Secretary of State for Business, Innovation and Skills (Vince Cable)
In the transformation to a green economy, low-carbon industries will grow, while other sectors will face significant challenges from increased energy prices. There could be significant transitional costs in the near term, but those could be manageable, with targeted Government action. We have committed to announcing in the autumn a package of measures to reduce the impact of Government policy on electricity costs for energy-intensive manufacturers whose international competitiveness is most affected by our energy and climate change policies.
Vince Cable
The renewable energy sector will, of course, be given confidence and clarity as a result of the electricity market review, which my colleague the Secretary of State for Energy and Climate Change launched this week, and it will be given further confidence by the investments of the green investment bank, which will take shape in the coming months.
Paul Flynn
Why have the Government inexplicably cut investment in tidal power by 50%, given that the immense power of the tide in my constituency is the second greatest in the world? We have this vast resource, with huge potential. It is green and inexhaustible, yet the Government refuse to invest in it. Should they not give the powers to the Welsh Assembly and the Scottish Parliament, which thoroughly understand the potential of tidal power?
Vince Cable
Tidal power may well have an important role to play in the long-term development of renewables and that is why it is one of the components of the new technology innovation centre that will focus on renewable energy.