Paul Maynard
Main Page: Paul Maynard (Conservative - Blackpool North and Cleveleys)Department Debates - View all Paul Maynard's debates with the Department for Education
(10 years, 8 months ago)
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Vince Cable
Absolutely not. The only concern from the industrial point of view is that energy-intensive industries should have those costs offset. Under the mechanism the Chancellor has proposed, which we are now pursuing through the European Commission, they will be offset.
Paul Maynard (Blackpool North and Cleveleys) (Con)
T1. If he will make a statement on his departmental responsibilities.
The Secretary of State for Business, Innovation and Skills (Vince Cable)
My Department’s objectives are to pursue economic growth and recovery by investing in skills and innovation.
Paul Maynard
As we have just heard, the carbon floor price in the UK remains significantly higher in the EU, despite the welcome changes in the Budget. What specific assessment has the Secretary of State made of the investment decisions taken by international energy-intensive companies, such as those that operate in my constituency?
Vince Cable
I think I largely answered that question a few moments ago, but the point I would emphasise is that despite the disadvantage of costs, albeit with the compensation we are now proposing, we have had very substantial investment in our energy-intensive industries. The steel industry, in particular, has been an exemplary example of long-term investment by Tata.