Oral Answers to Questions

Debate between Vince Cable and Paul Flynn

Thursday 7th February 2013 Commons Chamber

[Paul Flynn (Newport West) (Lab)]

T3. This week the British company Centrica withdrew, along with RWE and E.ON, from investments in nuclear power following its investment of £1 billion. That proves that nuclear electricity is now unaffordable unless the Government invest £20 billion of subsidy in a French company. Will the Secretary of State follow his commendable initiative on Greencoat UK by investing in what is Britain’s greatest unused source of power, which is tidal power—clean, green, British and eternal.

[Vince Cable]

We are certainly promoting research on new generations of renewable energy, and the hon. Gentleman will be aware of the new centre in Glasgow established specifically to look at tidal and wave power. I do not recognise his figure of £20 billion of subsidy for the nuclear industry. I am sure we are not going there.

Oral Answers to Questions

Debate between Vince Cable and Paul Flynn

Thursday 14th July 2011 Commons Chamber

[Paul Flynn (Newport West) (Lab)]

4. What assessment he has made of the effects on growth of green investment; and if he will make a statement.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

In the transformation to a green economy, low-carbon industries will grow, while other sectors will face significant challenges from increased energy prices. There could be significant transitional costs in the near term, but those could be manageable, with targeted Government action. We have committed to announcing in the autumn a package of measures to reduce the impact of Government policy on electricity costs for energy-intensive manufacturers whose international competitiveness is most affected by our energy and climate change policies.

--- Later in debate ---

[Vince Cable]

The renewable energy sector will, of course, be given confidence and clarity as a result of the electricity market review, which my colleague the Secretary of State for Energy and Climate Change launched this week, and it will be given further confidence by the investments of the green investment bank, which will take shape in the coming months.

[Paul Flynn]

Why have the Government inexplicably cut investment in tidal power by 50%, given that the immense power of the tide in my constituency is the second greatest in the world? We have this vast resource, with huge potential. It is green and inexhaustible, yet the Government refuse to invest in it. Should they not give the powers to the Welsh Assembly and the Scottish Parliament, which thoroughly understand the potential of tidal power?

[Vince Cable]

Tidal power may well have an important role to play in the long-term development of renewables and that is why it is one of the components of the new technology innovation centre that will focus on renewable energy.