Tim Yeo
Main Page: Tim Yeo (Conservative - South Suffolk)Energy Generation
Tim Yeo Excerpts(11 years, 7 months ago)
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Andrew George
The hon. Lady is absolutely right. In fact, that is the nub of the debate. It has taken me 10 minutes to get to that point—perhaps I will get to it now—but it is fundamental to this debate. Investors are clear in the messages that they are sending out at present. This is not purely a green campaigning issue for non-governmental organisations. It is an area in which very substantial pension funds and other investors are looking to invest. Looking forward decades, they want certainty and confidence, and they see this as a sector where they believe that certainty can be demonstrated with a target set sooner rather than later. Not only has this part of the economy performed by generating a large number of jobs and significant growth—far higher growth than in almost all other sectors of the British economy—but it is an area in which significant investors in the British economy want investment to take place.
Mr Tim Yeo (South Suffolk) (Con)
I congratulate the hon. Gentleman on securing the debate, and I add my strong support for the intervention made by the hon. Member for Brighton, Pavilion (Caroline Lucas). On the point that the hon. Gentleman just mentioned, one of the most significant factors is that the need for a focus on reducing the carbon intensity of electricity generation is supported not only by what one might call the usual suspects from the green world, but very strongly by the business world, including a large number of industries that have no direct interest in the issue whatever. That concern is perhaps reinforced by last night’s vote in the European Parliament, which is clearly a setback for achieving more effectiveness in the EU emissions trading system.
Mr George Howarth (in the Chair)
Before the hon. Member for St Ives (Andrew George)resumes, I realise that there is a very strong temptation in such a debate, where a lot of people wish to get in, to make an intervention, but hon. Members need to be reminded that interventions must be short and not mini-speeches.