Tony Baldry
Main Page: Tony Baldry (Conservative - Banbury)
Mr Davey
I hope that the hon. Gentleman is not trying to suggest that the last Government were effective in investing in electricity production, because they were very weak. There has been £45 billion of electricity investment since 2010. The investment rate is going up, not just in gas but in renewables. The first nuclear deal was struck last October. We are going across the board, and the lights will stay on under us; if Labour’s policy had continued, they would have gone out.
Sir Tony Baldry (Banbury) (Con)
Does not the Chinese Premier’s reconfirmation this week of Chinese investors’ willingness to invest in a new generation of nuclear power stations in the UK demonstrate that the world sees the UK generally as a good place in which to invest? Does it not also show that the Chinese see the framework of the Energy Act 2013 as a good, sound basis on which to invest in energy in the UK?
Mr Davey
My hon. Friend is absolutely right. The interest from around the world in the UK’s reformed electricity markets, particularly the world’s first ever low-carbon electricity market, is profound. It is not just the Chinese; there is interest from the French as well as from Japanese companies such as Hitachi and Toshiba-Westinghouse—and not just in nuclear, but across the low carbon piece.