Perran Moon
Main Page: Perran Moon (Labour - Camborne and Redruth)Department Debates - View all Perran Moon's debates with the HM Treasury
(3 weeks, 4 days ago)
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Rachel Reeves
I am sure that my hon. Friend’s constituents in Edinburgh North and Leith will benefit from being able to enjoy attractions in the Scottish school holidays. People from the other nations and regions of the UK, or from further afield, will also be able to enjoy the attractions of Edinburgh this summer.
On the specific issue of delinking gas and electricity prices, this is both a short-term and long-term measure. In the short term, we have increased the electricity generator levy by 10 percentage points to bring in more money this year. We are renegotiating contracts to move electricity prices on to contracts for difference in order to have greater certainty about electricity prices, so that the gas price does not set the electricity price so frequently, giving greater stability of energy prices to businesses and families.
Perran Moon (Camborne and Redruth) (Lab)
Inflation is down, wages are up, interest rates are down, and growth is up. These are the reasons why the Chancellor can make today’s announcements. Those on the Opposition Benches will not say it, but I will: thank you, Chancellor.
As the Chancellor said in her statement, the British industrial competitiveness scheme offers important support for economic growth, but at the moment it excludes the vital critical minerals sector, which, as she knows, is directly relevant to my Camborne, Redruth and Hayle constituency. Will she meet me to discuss energy support measures for the critical minerals sector?
Rachel Reeves
As my hon. Friend knows, I am absolutely committed to the critical minerals sector. We have already introduced the Kernow growth fund for Cornwall, and we have instructed the National Wealth Fund to invest more in critical minerals, including the huge opportunities in tin and lithium in Cornwall. We need more diversified supply chains for critical minerals and rare earths, and Cornwall gives us a great opportunity to achieve exactly that. I look forward to continuing to work with my hon. Friend and the other Cornwall MPs to ensure that we bring good jobs, paying decent wages, to the region.