Oral Answers to Questions

Richard Baker Excerpts

Tuesday 18th March 2025 Commons Chamber

[Matthew Patrick (Wirral West) (Lab)]

9. What steps he is taking to support the development of carbon capture and storage technology.

[Richard Baker (Glenrothes and Mid Fife) (Lab)]

19. What steps he is taking to support the development of carbon capture and storage technology.

[The Secretary of State for Energy Security and Net Zero (Ed Miliband)]

The £21.7 billion of funding to which we committed in October will kick-start the carbon capture, usage and storage industry, supporting thousands of jobs in our industrial heartlands through the east coast and HyNet clusters. We continue to engage with important future projects, such as Acorn in Scotland and Viking in the Humber, and we will make further announcements following the spending review.

[Ed Miliband]

My hon. Friend is entirely right about this. We have learned over the last decade and more that this is the biggest jobs opportunity of the 21st century. Nowhere is that more true than in the investments we are making in carbon capture, usage and storage, and I am confident that my hon. Friend’s constituents will benefit. A couple of weeks ago, the Confederation of British Industry produced an important report that showed that last year, the net zero economy grew three times faster than the economy as a whole. The House should let that sink in, because it tells us that if we turn our back on the net zero economy, we turn our back on business, jobs and investment.

[Richard Baker]

Does my right hon. Friend agree that there is huge potential for carbon capture and storage to play a key role in our green energy ambitions for Scotland? As we look towards the spending review, does he agree that the Acorn project presents an excellent and efficient opportunity to invest in CCUS, and to reduce the carbon impact of industries across Scotland, because it will repurpose existing pipelines?

[Ed Miliband]

I congratulate my hon. Friend. He is a fantastic advocate for the Acorn project, of which we are hugely supportive. Track 1 projects were agreed in last year’s Budget—a fiscal event, a fiscal moment—and the Government are considering those projects ahead of the next phase of the spending review, which will come in June; but I do not think that anyone doubts the potential value of the Acorn project, not just to Scotland but to the whole United Kingdom.