Hinkley Point C Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Tom Brake
Main Page: Tom Brake (Liberal Democrat - Carshalton and Wallington)Department Debates - View all Tom Brake's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Greg Clark
My right hon. Friend is absolutely right. It is important that we should welcome overseas investment, but we should also have the kind of regime and powers that other advanced economies benefit from. That is something that mature countries would expect to have, and that is what we are going to have as a result of these changes.
Tom Brake (Carshalton and Wallington) (LD)
Having pressed the pause button, why is the Secretary of State now pressing the fast-forward button? Does he not recognise that, as the Financial Times has pointed out, this project does not represent value for money? Does he accept that the cost to consumers has gone from £6 billion to £30 billion and that his Government are now willing to put in public subsidy, which, under the coalition, they said they would not do? Also, this is happening at a time when the cost of renewables is plummeting.
Greg Clark
No, I have said that the construction costs will be entirely financed by the private investors in the site. It is important that we take a consistent long-term approach to energy policy, and in so far as this can be cross-party, that will be beneficial. It is especially ironic that two Liberal Democrat Energy Secretaries were closely involved in the negotiation of this deal. The right hon. Gentleman obviously takes a different view.