Spending Review and Autumn Statement

Tom Blenkinsop Excerpts

Wednesday 25th November 2015 Commons Chamber

[Mr Osborne]

Peter Hendy is doing an excellent job in sorting out the finances of Network Rail. We funded the projects in control period 5 and funded additional spill-overs into control period 6. East-west rail is an important project and it will go ahead.

[Tom Blenkinsop (Middlesbrough South and East Cleveland) (Lab)]

The autumn statement confirms the Chancellor’s climate change exemptions, which leave energy-intensives such as steel companies no better off cash-wise. The partial exemptions from renewables obligation certificates and feed-in tariffs, which are now to end in four months anyway, leave the Chancellor’s new permanent exemption as close to worthless as it gets. The Chancellor announced four years ago an exemption to his carbon price floor tax. Where is it?

[Mr Osborne]

We are providing a permanent exemption to the maximum amount allowed by EU state rules for steel industries in the hon. Gentleman’s constituency and elsewhere, as well as chemicals and other energy-intensive industries. This will be a permanent exemption, rather than a grant from the Department for Business, Innovation and Skills. That makes it much more sustainable going forward.