VoteClimate: Rishi Sunak MP: Climate-Related Speeches In Parliament

Rishi Sunak MP: Climate-Related Speeches In Parliament

Rishi Sunak is the Conservative MP for Richmond (Yorks).

We have identified 19 Parliamentary Votes Related to Climate since 2015 in which Rishi Sunak could have voted.

Rishi Sunak is rated Anti for votes supporting action on climate. (Rating Methodology)

  • In favour of action on climate: 0
  • Against: 14
  • Did not vote: 5

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Rishi Sunak's Speeches In Parliament Related to Climate

We've found 45 Parliamentary debates in which Rishi Sunak has spoken about climate-related matters.

Here are the relevant sections of their speeches.

  • 21 Feb 2024: Engagements

    I am happy to look into the issue that the hon. Lady raises. What would be damaging to the north-east and the Tyne are her party’s plans to stick with their completely ridiculous 2030 decarbonisation target with absolutely no plan to pay for it, which just means higher taxes for everyone in her constituency and the country.

    [Source]

  • 31 Jan 2024: Engagements

    Again, I point the right hon. and learned Gentleman back to my previous answer. Everybody’s situation will be different. Someone on a typical mortgage of around £140,000, who is currently paying £800, will be able to keep their mortgage payment essentially the same by using the facilitations the Chancellor has put in place. That is what we have done to help people. Again, it is incumbent on the right hon. and learned Gentleman to explain to the British public how his policy of decarbonising the grid by 2030 will be funded. He will not give the answer, but helpfully the shadow Energy Secretary, the right hon. Member for Doncaster North (Edward Miliband), popped up at the weekend in an interview in The Sunday Times and said that Labour does not need a plan to pay for it because, in his words, it will “produce real savings”, and it makes clear “economic sense”. The Leader of the Opposition does not want to talk about it at all. All these years later, it is the same story: the right hon. Member for Doncaster North has carved a promise in stone, and everybody else just looks away in embarrassment.

    [Source]

  • 24 Jan 2024: Engagements

    We do know that the right hon. and learned Gentleman is committed to his 2030 decarbonisation promise, which the Opposition say will cost £28 billion. I was reading about it this week. He says that he has changed the party, but one of his team called that promise “an albatross” hanging around their neck—that might have been the shadow Chancellor. But he said they are doubling down on it, and all this is ahead of a crunch meeting this week, we are told, for the Opposition to work out how they will pay for that. I can save them some time, because we all know the answer: higher taxes for the British people.

    [Source]

  • 17 Jan 2024: Engagements

    As my right hon. Friend will know, planning applications for new infrastructure are managed independently, so I cannot comment on specific cases, but I agree with her that it is important to listen to the views of local communities, such as those she represents across Suffolk and East Anglia. I know that the Under-Secretary of State for Energy Security and Net Zero, my hon. Friend the Member for West Aberdeenshire and Kincardine (Andrew Bowie) was visiting her area recently to mark the commencement of the project at Sizewell C, and I can assure her that relevant Ministers will continue to pay close attention to her concerns.

    [Source]

  • 13 Dec 2023: Engagements

    I think the right hon and learned Gentleman missed that I paid tribute to our emergency workers at the beginning of the session. But let us see, because I think it is important. He talked about working families. Of course I want to make sure that we support working families, and that is what we are actually delivering. All he has to offer them is borrowing £28 billion a year. All that will do is push up their mortgage rates and push up their taxes. Meanwhile, what have we done? We have delivered tax cuts for millions of working families, boosted the national living wage, recruited 50,000 more nurses and 20,000 more police officers, improved our schools, cut the cost of net zero for working families, cut the boat crossings by a third and halved inflation. That is the difference: we are getting on and delivering for working Britain.

    [Source]

    I am happy to tell my hon. Friend that the Chancellor has already authorised more than £2 billion of investment to support our transition to zero-emission vehicles, and that we are well on track to reach our target of 300,000 charge points by 2030. I can also tell him that we will consult on amending the national planning policy framework to ensure that it prioritises the roll-out of charge points, on top the funding of almost £400 million to support local authorities to spread them out so that all our families have access to them when they need it.

    [Source]

    We are committed to working with the steel sector to secure a decarbonised future, supporting local economic growth and our levelling-up agenda. That includes our commitment to major support with energy costs and also access to hundreds of millions of pounds of grants to support energy efficiency and decarbonisation. I obviously cannot comment on conversations with individual companies, but my hon. Friend can see from our track record on working with either Celsa or Tata Steel that we have been able to support our fantastic steel industry, and we will always continue to do so.

    [Source]

  • 6 Dec 2023: Engagements

    We are looking exactly at how local communities can benefit when new infrastructure is in their vicinity, as part of our new plan for increased energy security. May I commend my hon. Friend’s local area for the contribution it is making to our clean energy transition? It is a great example of this country’s fantastic track record in delivering net zero and decarbonising faster than any other major economy, not something we will hear from the Labour party, but something that those of us on the Government Benches are very proud of.

    [Source]

  • 22 Nov 2023: Engagements

    It is not £500 million; we are investing tens of billions of pounds in energy transition, not least for things such as carbon capture and storage, in which the North sea can play a starring role. The hon. Lady is just completely wrong. In order to have energy security, it is right to exploit the resources that we have here at home. Even the independent Climate Change Committee projects that we will still need oil and gas as we make the transition and in decades’ time, so the question for the hon. Lady is: are we better off getting that here at home, supporting Scottish jobs and businesses, or are we better off putting that money in the hands of foreign dictators and shipping it here with two or three times the carbon emissions?

    [Source]

  • 7 Nov 2023: Debate on the Address

    15:21

    Returning to energy security, the Opposition want to ban all new oil and gas licences, risking our becoming even more dependent on Putin’s Russia for our crucial supplies of energy. What is even more absurd about their policy is this: the Leader of the Opposition is not against all oil and gas; he is just against British oil and gas. Unlike the Opposition, who want to pursue net zero with an ideological zeal—going even faster and further no matter what the cost or the disruption—we on the Conservative Benches are cutting the cost of net zero for working people, saving British families £5,000, £10,000 or £15,000, and that is the choice.

    The hon. Lady talks about being straight. It is the Conservative party and me who were straight with the British people about the cost of getting to net zero—something that she and the Labour party would do well to follow. Because we have been honest and transparent and have cut those costs, we will save British families £5,000, £10,000 or £15,000—

    [Source]

  • 25 Oct 2023: Engagements

    As we saw with the right hon. and learned Gentleman’s recent decisions on building new houses, politicians like him always take the easy way out, whereas we are getting on with making the right long-term decisions to change this country for the better—on net zero, on High Speed 2, on a smoke-free generation, on education and on energy security. Contrast that with his leadership: too cautious to say anything and hoping that nobody notices. Let me tell him: come that general election, the British people will.

    [Source]

  • 13 Sep 2023: Engagements

    No; but I would say that my approach to reaching net zero is not one that requires people to give up doing the things that they want to do and enjoy, such as flying. The right thing to be doing is as we are doing: investing in and funding new technologies, such as sustainable aviation fuel, because that is how we will decarbonise aviation during the transition to net zero, rather than forcing people to give everything up.

    [Source]

  • 13 Sep 2023: Engagements

    I am not sure whether the hon. Lady was here for the statement on Monday, but I rather assume she was not. What she describes was not a trade deal so, first, she should get her facts right. As I explained on Monday, there are lots of different ways in which countries will participate in solving international issues. At the same summit she mentions, we announced a record investment in the green climate fund—the single biggest investment by this country to help with international climate finance. That was warmly welcomed by countries at the summit, which can see that the UK is taking a leadership role and helping countries to adapt to and mitigate the impacts of climate change.

    [Source]

  • 11 Sep 2023: G20 Summit

    16:33

    I have just returned from the G20 summit in India. For the record, let me declare that, as is a matter of public record, I and my family are of Indian origin, and my wife and her family are Indian citizens with financial interests in India. At the summit I had three aims: first, to increase diplomatic pressure on Russia and call out its shameful disruption of global food supplies in the Black sea; secondly, to show the world that democracies such as the United Kingdom, not authoritarian regimes, are leading the fight on global challenges such as development and climate change; and thirdly, to strengthen ties and forge new partnerships to deliver jobs, growth and security for the British people.

    We are also leading calls at the G20 to safely harness new technologies to support growth and development, and we are leading action to tackle climate change. While some in Westminster denigrate the UK’s record on climate issues, out there in the world we are rightly seen as a global leader. We have cut emissions faster than any other G7 country, with low-carbon sources now providing over half our electricity. We are providing billions for the global energy transition, including through our pioneering Just Energy Transition Partnerships. And at the G20 I made a record commitment of over £1.6 billion for the Green Climate Fund—the single biggest international climate pledge that the UK has ever made.

    [Source]

  • 6 Sep 2023: Engagements

    I am grateful to my hon. Friend and the commission for carbon competitiveness for the report that he has worked on and highlighted, and the Government are absolutely committed to putting in place the necessary policies for UK industry to decarbonise successfully. As he will be aware, the Government recently consulted on addressing carbon leakage in particular, with a range of potential options. We are in the process of considering those responses, and will issue a formal response in due course.

    [Source]

    Steel is absolutely vital to the UK. This matter is of course of interest to the hon. Gentleman, but I have also discussed it extensively with my hon. Friend the Member for Scunthorpe (Holly Mumby-Croft), and that is because the industry supports local jobs and economic growth. Conversations with specific companies, such as Tata, are ongoing, but they are understandably commercially sensitive. We share the ambition of securing a decarbonised, sustainable and competitive future for the industry in this country. In the meantime, we are supporting the sector with our energy-intensive industries exemption, which provides discounted energy bills. We also have the industrial energy transformation fund, which supports steel companies with their energy bills and the transition through capital to a greener future.

    [Source]

  • 19 Jul 2023: Oral Answers to Questions

    This is something that has been raised with me by those in the industry. We are committed to protecting the environment and delivering on our net zero targets, but the Department for Environment, Food and Rural Affairs is continuing to engage closely with manufacturers, retailers and packaging companies on the precise design of the scheme. I know that Ministers will continue to keep this House and my hon. Friend updated.

    [Source]

    The hon. Lady just makes a completely bizarre point. Because we moved quicker and faster than everyone else, she thinks that somehow that is something we should now not be proud of. It is right that other countries are catching up; it is inevitable that they will have to decarbonise faster now to make up for the fact that over the past two decades they have not followed our example. I am not going to take any lectures from her on this topic, because our track record is a good one. We have decarbonised faster than everyone else and right now we are making the right long-term decisions to make sure that we not only transition to net zero, but do so in a way that brings people along with us and creates jobs in the process.

    [Source]

  • 10 May 2023: Engagements

    As the independent Climate Change Committee has acknowledged, we will need fossil fuels for the next few decades as we transition to a greener future. During that period, it makes absolutely no sense not to invest in the resources that we have here at home and not to create jobs here but to import foreign fossil fuels at twice the carbon emissions of our local resources. It is an economically illiterate policy—but that is what we would expect from the Green party.

    [Source]

    While I cannot comment on the contract details of one particular company, what I can comment on is our record on this issue. Since the benchmark was established, emissions in this country have fallen by nearly 50%, and we have also grown the economy by two thirds—although I know the SNP Government are not as focused on that as we are. At the same time, because of the way in which we regulate new and renewable energies, we have seen the price of renewables such as offshore wind decline from £140 an hour to about £40. That shows a regulatory system that is working in delivering lower-cost, renewable energy to British families.

    [Source]

  • 14 Mar 2023: Machinery of Government

    On 7 February, I announced the creation of four new Government Departments: the Department for Energy Security and Net Zero; the Department for Science, Innovation and Technology; the Department for Business and Trade; and the Department for Culture, Media and Sport. Following the implementation of those changes, I am announcing the following changes to the sponsorship of public bodies and regulators by these new Departments.

    The United Kingdom Atomic Energy Authority will be sponsored by the Department for Energy Security and Net Zero, under the Secretary of State for Energy Security and Net Zero. This will support the Secretary of State in his role to position the UK as a leader in sustainable nuclear energy.

    [Source]

  • 8 Mar 2023: Oral Answers to Questions

    I am proud of our commitment to scaling up renewable energy sources. Renewables make up nearly 40% of our electricity supply, which represents a fourfold increase since 2011. My right hon. Friend will know that I cannot and will not pre-empt Budget decisions, but he is a powerful champion for the environment in this House, and I have no doubt that he will make his views known to the Chancellor.

    [Source]

  • 1 Mar 2023: Engagements

    I join my hon. Friend in congratulating Zero Carbon Guildford on receiving the Climate Coalition’s Innovative UK Community Project award. She is absolutely right that community empower-ment, engagement and action can play a role in supporting the UK’s transition to net zero, enabling communities to access the benefits that it brings, from greener jobs to improved health.

    [Source]

    My hon. Friend is a powerful advocate for his ceramics industry, and rightly so. It has been a pleasure to meet him and his businesses in the past. He will know that our energy bills discount scheme will support businesses with their energy bills through to March next year, and we have a range of other funds to support energy-intensive industries. There is the scheme that he mentioned, and also the industrial energy transformation fund, which provides capital grants to businesses such as his to help them decarbonise. I look forward to discussing this with him and his businesses in the near future.

    [Source]

  • 7 Feb 2023: Government Department Reorganisation

    A new Department for Energy Security and Net Zero has been tasked with securing our long-term energy supply, bringing down bills and halving inflation. The move recognises the significant impact rising prices have had on households across the country as a result of Putin’s illegal war in Ukraine, and the need to secure more energy from domestic nuclear and renewable sources as we seize the opportunities of net zero.

    [Source]

  • 18 Jan 2023: Engagements

    I thank my right hon. Friend the Member for Kingswood (Chris Skidmore) for his review, and also pay tribute to my right hon. Friend the Member for Ludlow (Philip Dunne) for his work in this area. I am pleased that the report recognised the UK’s leadership in tackling climate change and catalysing a global transformation in how other countries are dealing with it. We have, as the report acknowledged, exceeded expectations to decarbonise, and we will respond to the full range of the review’s requests and recommendations in the coming year.

    [Source]

    My hon. Friend is an excellent champion for her constituents, particularly her advanced manufacturing businesses, which I have had the pleasure of visiting with her in the past. It is important that we support those businesses on energy prices, which we are doing through the announcement that the Chancellor recently made, particularly in regard to generous support for energy-intensive industries. Indeed, they can also apply for up to £315 million-worth of capital grant funding to help them make the transition to net zero.

    [Source]

  • 11 Jan 2023: Oral Answers to Questions

    I am pleased that the hon. Gentleman brought up the subject of energy. He was right to do so. When it comes to the economy, energy is incredibly important to Scotland, and Scotland will play a fantastic part in helping us make the transition to net zero. We now know, however, that the Scottish Government do not want to support the Scottish energy industry and the 200,000 jobs that it produces. I am keen to work with the Scottish Government to support the North sea, because it is something of which we are all very proud in the United Kingdom.

    [Source]

    My hon. Friend is a fantastic champion for the steel industry, and this Government remain committed to a thriving UK steel industry. That is why our support for steel includes nearly £800 million in relief for electricity costs and steel companies are eligible to bid for up to £1.5 billion in capital grant to speed their transition to net zero steel production.

    [Source]

    My hon. Friend is a fantastic champion and campaigner for this project. We will invest up to £1 billion to establish carbon capture and storage in four industrial clusters by 2030. We very much recognise the benefits of the Scottish cluster and the role it could play in decarbonisation, and we are progressing track 2 and will set out further details in due course.

    [Source]

    My hon. Friend is absolutely right. We know that we will have to rely on hydrocarbons for decades to come as we transition to net zero, and consuming oil and gas from the North sea means less than half the carbon footprint of importing that same oil and gas, so it obviously makes sense to do it here and in the process support tens of thousands of jobs in Scotland. I can reassure him that the Scottish oil and gas industry has this Government’s wholehearted support.

    [Source]

  • 14 Dec 2022: West Midlands Economy

    My hon. Friend makes an excellent point. I am delighted that the Government awarded £210 million to Rolls-Royce SMR last year for research and development. This has the potential to benefit the UK and to support our energy security and climate goals. I look forward to getting updates and to working with my hon. Friend to see this fantastic new technology come to life.

    [Source]

  • 13 Dec 2022: Illegal Immigration

    12:32

    It is not cruel or unkind to want to break the stranglehold of criminal gangs who trade in human misery and who exploit our system and laws. Enough is enough. As currently constructed, the global asylum framework has become obsolete. Today, there are 100 million people displaced globally. Hostile states are using migration as a weapon on the very borders of Europe. As the world becomes more unstable, and the effects of climate change make more places uninhabitable, the numbers displaced will only grow.

    [Source]

  • 30 Nov 2022: Engagements

    I pay tribute to my hon. Friend for his efforts to progress this project. We are fully committed to securing investment to grow our electric vehicle supply chain. Although he will know I cannot comment on individual commercial negotiations, we announced £350 million of funding for the automotive transformation fund in the net zero strategy to support the development of that supply chain, and I wish him every success in his bid.

    [Source]

    Not only are we supporting in this country carbon capture and storage, hydrogen and offshore wind—all new technologies that will help us to get to net zero and will create jobs in Scotland—but we are supporting our transition. That is good for the Scottish economy and good for Scottish jobs, and something the SNP would do well to support.

    [Source]

  • 23 Nov 2022: Oral Answers to Questions

    Again, we respect the decision of the Court today with regard to the referendum and we are getting on with the business of working constructively, collaboratively and in partnership with the Scottish Government to deliver for the hon. Member’s constituents. Indeed, the Ayrshire growth deal is investing over £100 million to make use of his region’s strong industrial heritage, potentially making more use of renewable energy. That is the kind of positive project that we should be focused on, and that is what we will keep on delivering.

    [Source]

  • 17 Nov 2022: G20

    10:30

    We agreed action to improve energy security by accelerating the transition to clean energy. We launched a new just energy transition partnership with Indonesia, which will unlock billions in private finance for new green energy infrastructure. Finally, we committed to maintain free markets and free trade and to reform the World Trade Organisation.

    [Source]

  • 9 Nov 2022: Oral Answers to Questions

    I praise my right hon. Friend for highlighting the incredible potential of floating offshore wind technology to help us move to net zero. He is right about the opportunities in the Celtic sea, and for Wales more generally, and I can confirm that the Crown Estate’s leasing process is expected to deliver more seabed leases for many more projects.

    [Source]

  • 9 Nov 2022: COP27

    12:34

    With permission, Mr Speaker, I will make a statement on COP27, which I attended in Sharm el-Sheikh on Monday.

    When the United Kingdom took on the presidency of COP, just one third of the global economy was committed to net zero. Today, that figure is 90%, and the reduction in global emissions pledged during our presidency is equivalent to the entire annual emissions of America. There is still a long way to go to limit global temperature rises to 1.5°, but the historic Glasgow climate pact kept that goal within reach. I know that the whole House will want to join me in paying tribute to my right hon. Friend the Member for Reading West (Alok Sharma) for his inspirational leadership as COP President.

    I know that some have feared that Putin’s abhorrent war in Ukraine could distract from global efforts to tackle climate change, but I believe it should catalyse them. Climate security and energy security go hand in hand. Putin’s contemptible manipulation of energy prices has only reinforced the importance of ending our dependence on fossil fuels, so we will make this country a clean energy superpower. We will accelerate our transition to renewables, which have already grown fourfold as a proportion of our electricity supply over the last decade; we will invest in building new nuclear power stations for the first time since the 1990s; and, by committing £30 billion to support our green industrial revolution, we will leverage up to £100 billion of private investment to support almost half a million high-wage, high-skilled green jobs.

    There is no solution to climate change without protecting and restoring nature, so at COP27 the UK committed £90 million to the Congo basin as part of £1.5 billion we are investing in protecting the world’s forests, and I co-hosted the first meeting of our forests and climate leaders’ partnership, which will deliver on the historic commitment to halt and reverse forest loss and land degradation by 2030.

    Central to all our efforts is keeping our promises on climate finance, so the UK is delivering on our commitment of £11.6 billion. To support the most vulnerable who are experiencing the worst impacts of climate change, we will triple our funding on adaptation to reach £1.5 billion a year in 2025.

    In all these discussions, the United Kingdom is acting with our friends to stand up for our values around the world, to deliver stability and security at home. Tackling climate change and securing our energy independence is central to these objectives. Even though we may now have handed over the presidency of COP, the United Kingdom will proudly continue to lead the global effort to deliver net zero, because this is the way to ensure the security and prosperity of our country today and for generations to come. I commend this statement to the House.

    It is right that the Prime Minister eventually went to COP27. Remember the stakes: the world is heading for 2.8°C of warming—that is mass flooding, habitats destroyed, untold damage to lives and livelihoods. We must prevent that, for security, for the public finances and for the next generation. That is why it was inexplicable that he had to be dragged kicking and screaming to even get on the plane. Britain should be leading on the world stage, helping the world confront the greatest challenge of our time, but his snub, one of the first decisions of his premiership, was a terrible error of judgment and sent a clear message that if you’re looking for leadership from this Prime Minister, look elsewhere, and that if you want to get this Prime Minister to go somewhere, get the right hon. Member for Uxbridge and South Ruislip (Boris Johnson) first—get him to come along, then the Prime Minister will follow.

    The Prime Minister said in his speech at COP27 that we need to “act faster” on renewables, so why is he the roadblock at home? As he was flying to Egypt, his Minister was reaffirming the ban on onshore wind—the cheapest, cleanest form of power we have.

    The Prime Minister also said at COP27 that he realises

    The Prime Minister also said at COP27 that it was

    Let me deal with the right hon. and learned Gentleman‘s brief substantive questions. He asked about renewable power. Forty per cent. of our electricity now comes from renewable power. That is up fourfold since 2010. What did we inherit? A Labour Government who believed there was no economic case for new nuclear power. He talked about oil and gas. Again, he needs to live in the real world. Oil and gas are going to be a part of our energy mix in the transition for several years ahead. It is simply pie in the sky to pretend otherwise. The independent Climate Change Committee has even recognised that. The carbon footprint of homegrown gas is half the footprint of importing gas from abroad, so it is a sensible thing to do.

    I welcome my right hon. Friend’s statement. I also welcome the continued commitment that he and the Government are showing to net zero by 2050 to tackle climate change. He is absolutely right to talk about the creation of high-skilled, high-wage green jobs as we green our economy, but people need the training, skills and education to be able to take on those jobs. What are the Government’s plans on education and training for green skills?

    I thank the Prime Minister for advance sight of his statement. Let me also welcome his last-minute change of heart to attend COP27. But I am afraid that, whether he likes it or not, his initial instinct not to attend will be long remembered, and rightly so. It means that he now has a major job to convince people that he is truly committed to the challenge of climate change.

    That commitment starts with our own domestic targets, but it is vital that our collective commitment extends to those in the global south. Nations and peoples are being damaged the most by a climate crisis that they have contributed the least to. These are the poorest people on this planet and they always seem to pay the highest price. That is why it is so right and necessary that loss and damage were on the formal COP agenda for the first time.

    Will the Prime Minister guarantee that UK overseas aid earmarked for climate finance will be spent within the five-year timeframe, as originally promised? Will he also guarantee that the total aid budget will not be slashed further in the autumn statement next week? Finally, in terms of the new Prime Minister’s domestic targets on climate, will he honour the promises made to the north-east of Scotland on carbon capture and storage? Will he commit to taking the Scottish cluster off the Government’s reserve list and to fund it right now?

    I am pleased that it was the UK that established a new Glasgow dialogue on loss and damage to discuss arrangements for funding activities to avert, minimise and address loss and damage, and those conversations are ongoing. With regard to our international climate finance pledges, as I say, we remain committed to the £11.6 billion, and it is our intention to deliver it over the timeframe that was originally envisaged. With regard to targets, again, it should be a source of enormous pride for everyone in this House that we have decarbonised in this country faster than any other G7 country. Our targets are among the most ambitious in the world and we have a credible plan to get on and deliver them.

    I congratulate my right hon. Friend on his crystal clear commitment both in Sharm el-Sheikh and in this Chamber here today to delivering net zero Britain. There is no doubt about that under his prime ministership. Now we no longer have the presidency of COP, which has been acting as a forcing mechanism across Government, can he clarify how he intends that his Government will deliver our ambitious nationally determined contribution to reduce emissions across the disparate strands of Government Departments?

    My right hon. Friend makes an excellent point. I can assure him that, although we are no longer formally the president of COP, our leadership on this issue internationally will not waver, and he has my commitment on that. I personally will drive this through Government—in conjunction with the Secretary of State for Business, Energy and Industrial Strategy and with our climate change Minister—but this is something that pervades all aspects of Government now, and we have to change our thinking on this. It is not the work of any one Department or any one Minister; if we are going to make this commitment work, we are all going to have to play our part.

    Given the scale of what is about to happen to our planet, every single one of us must do what we can to alleviate the problems that we are facing, but the richest 1% of people on our planet are responsible for the same amount of global emissions as the poorest 50%. Does the Prime Minister accept that, unless we tackle the issues of social justice, we will not resolve the problems of climate change, and was he comfortable that one of the worst polluters on the planet, Coca-Cola, sponsored the recent meeting of COP?

    As we have been discussing, I believe we have a moral obligation to help those countries with the transition to net zero and I am proud to say that we are playing our part in doing that. It was great at COP to sit down with leaders from many of those emerging market countries that are benefiting from the investments from our country to help them with the transition. They recognise the leadership role that we are playing.

    We need to create jobs and prosperity as we transition to net zero. In battery technology, we are world leading in the research, but we need to manufacture batteries here. Given the concerning news about Britishvolt, will the Prime Minister and his colleagues commission an urgent review of how we can deliver the gigafactories that are necessary in this country in the short term to make sure that we have a continuing vibrant car manufacturing industry?

    I welcome what the Prime Minister said at COP—that tackling climate change goes hand in hand with lowering energy bills, improving our energy security and hurting Putin in his illegal war in Ukraine. However, I am alarmed that at home the Prime Minister has banned onshore wind, one of the cheapest and most popular forms of renewable energy. Will he confirm whether his priority is cutting people’s energy bills, improving Britain’s energy security and tackling global climate change, or keeping the dinosaurs on his Back Benches happy? Why will he not get rid of the ban on onshore wind?

    It started so well. We are committed to reducing people’s bills and to having more forms of renewable energy. Our track record on this is superb: the amount of renewable energy is four times more than in 2010 and zero carbon energy now accounts for half of our electricity needs. We are poised to do more. Offshore wind is the thing we are focusing on, along with nuclear. We are now a world leader in offshore wind, which is providing cheap forms of electricity and energy for households up and down the country. Alongside nuclear, that is how we will transition to a cleaner grid.

    Of course, I welcome any investment for the global south to mitigate the horrific damages of climate change, but is this new money, is it coming out of the existing official development assistance budget and what is being cut if it is coming out of the existing ODA budget? As Chancellor, the right hon. Member made savage cuts to climate mitigation programmes. Is he going to replace those?

    As Chancellor, yes, I did make difficult decisions to ensure that our public finances were on a sustainable trajectory. That is not something I am going to shy away from, because I think we have all seen what happens when the Government do not command the confidence of international markets when it comes to borrowing and debt issues. I thought, in that context, it was reasonable to temporarily reduce our ODA budget until our public finances are in a better place, and that is a commitment that I stand by, but we remain committed to the £11.6 billion in international climate finance that we committed at the time. Those announcements have come from that budget. It is very welcome that we are able to continue delivering that, even though we are facing some other difficult decisions on other topics.

    Could I ask the Prime Minister if he would take this opportunity to welcome the election of President Lula in Brazil, and his commitment to both social justice and environmental justice, and to confirm what the previous Prime Minister told this House, which is that no British bank, financial institution or company will henceforth be allowed to invest in fossil fuel extraction anywhere in the world as part of our contribution to bringing about net zero globally?

    My Essex constituents absolutely get the impact of climate change, because they saw it at first hand in those awful fires last summer. Many of them also get that, unless we help other countries to mitigate and adapt to climate change, we will see even more unsustainable migration, and that will impact us at home. So it is great that my right hon. Friend has reconfirmed our commitment to the investment amounts that we promised in Glasgow and that he has reconfirmed our commitment to deliver those on time. Can he confirm that we will continue to work with other countries to make sure those investments are made on time?

    I thank my right hon. Friend for all her work in this area, which she is rightly passionate about and where she has made an enormous difference. I look forward to receiving her continued advice on how we can deliver on our commitments. I am pleased to give her that reassurance. Actually, as she knows, the doubling of our international climate finance commitment was a catalyst for many other countries around the world doing the same. We want to ensure that all that money is spent, and spent well. That is what we will do.

    The Prime Minister just said how important it is to keep our promises on climate finance, and I agree. Will he explain why he does not seem to agree with himself? His Government have not kept their climate promises. He has not delivered the $300 million that we still owe to the green climate and adaptation funds—when will we see that? Will he ensure that all new climate finance is new and additional and not being raided from an ever diminishing aid budget? Does he recognise that the moral obligation that he talks about must extend beyond mitigation and adaptation to address loss and damage? Will he support the establishment of a finance facility for loss and damage at COP27?

    At COP26, the Prime Minister was successful in mobilising hundreds of billions in international private capital to support the challenge of net zero, which seems a much better deal than Labour’s plan, which would place a huge burden on British taxpayers. What further steps will my right hon. Friend take to consolidate London’s leadership as a centre for green finance?

    The Welsh Labour Government are setting up a publicly owned company to accelerate investment in onshore wind and other renewables, thus reducing emissions, increasing energy security and using profit for the public good. Given that onshore wind is the cheapest form of renewable energy, when will the Prime Minister step up to the mark, match the Welsh Government and bring forward an accelerated investment programme for onshore wind across England?

    The Prime Minister has a challenge in getting money out of the door. The BioYorkshire project, which will bring transformation—it is the biggest green new deal before the Government—needs funding, which has been committed but, two years down the line, not released. When will he bring that funding forward for the transition to the technologies of the future that we need to address climate change?

    I agree with the hon. Lady that we need to invest in innovation. That is why we have a £1 billion net zero innovation portfolio, because ultimately it will be the technologies of the future that will help us solve this problem. If she writes to me, I will be happy to look into that specific bid.

    I welcome the Prime Minister’s attendance at COP27 and our commitment on climate change, which is the biggest long-term strategic challenge that the globe faces as we test the limits of our fragile planet. With net zero a long way off, we face problems today from extreme weather patterns including floods and increased crop failures. Their scale will further erode global security, with vulnerable states subject to desertification, food shortages and rising sea levels. Will the Prime Minister recognise that the burden in meeting some of those challenges will fall on our armed forces both domestically and internationally and, therefore, this is not the time to cut the defence or international aid budgets?

    My right hon. Friend is right about the devastation that climate change is causing, not least in Pakistan where 30 million are impacted as an area the size of the entire United Kingdom is now under water, with disease rife through the water. He knows that I remain committed to supporting our armed forces, and that will always be the case.

    The Prime Minister gives oil companies who are already making billions in excess profits 90p in tax breaks for every £1 they invest in oil and gas, literally fuelling the climate change that will bring more flooding to the north-east, destroying our agriculture, lives and livelihoods, prospects and prosperity. Yet he refuses to invest in the north-east’s transport infrastructure, industry, green technologies, people and skills to combat climate change. Why does he treat the oil companies with such largesse and leave the north-east with nothing?

    The hon. Lady talks about new investments in renewable energy in the north-east as if they are not happening. She might want to visit Teesside. Whether it is offshore wind, hydrogen or carbon capture and storage, that is where the future is, and it is happening in the north-east.

    At COP27, the Prime Minister boasted about the UK’s investment in renewables, yet a recent report by the Welsh Affairs Committee warned that Wales’s renewable energy potential is

    My hon. Friend is absolutely right. Our record on this is a 44% reduction in climate emissions and 76% GDP growth. That shows it is possible and that is what Britain is delivering.

    It is right that we bring people with us as we transition to net zero. The worst thing we can do is alienate communities if we want to actually deliver on our climate commitments. As it turns out, we are very lucky to have a very reliable and very affordable form of energy in offshore wind, which is also creating jobs domestically in the UK. It is right that that is our priority.

    Will the Prime Minister say what view he takes of the role of local authorities in the climate emergency? In 2010, there were some fantastic programmes. Had they continued to 2022, we would have a third of our homes in which people—homeowners or renters-—would be paying a third of the bills they are paying now. What view does he take of local authorities getting stuck in to retrofit, particularly in the private rented sector, which is very draughty and leaky?

    In the relentless and obsessive pursuit of net zero, the Government are now adopting policies that are contradictory and, in some cases, dangerous. We are going to import billions of pounds-worth of natural gas from countries who frack that gas, yet we are turning our back on the natural resources we have in our own country, sacrificing revenue, jobs and energy security. We are going to rely more on wind and solar power, the earth metals for which are in the hands of autocratic regimes, especially China. We are importing wood from America to burn in a power station in the United Kingdom at a cost of billions to electricity consumers. Those policies might be welcomed by the chattering classes, but does the Prime Minister understand the bewilderment, frustration and anger of those who struggle to pay their electricity bills and worry about energy security?

    The intervention and leadership of the Government is of course welcome, as is the focus on helping developing and climate change-vulnerable countries. What initiatives are being considered, or could be considered, for businesses to share their technologies, intellectual property and so on with expertise to help those countries move forward far more quickly than we have been able to do? It is, after all, business that will need the research and development in this field which will solve the global problem we all face.

    Why is the Prime Minister banning onshore wind, the best renewable energy?

    I thank the Prime Minister for his statement on COP27 and in particular for highlighting his discussions on migration with other European leaders. Does he agree with me that if we are to sort out the migration crisis, we must all work together to help developing countries with their climate change challenges, so that we can also deal with the migration crisis?

    Let me ask the Prime Minister whether he would like to visit the Rhondda to see the problems that climate change is already bringing to one of the poorer constituencies in the land: flooding, run-off from the mountains, housing stock that is very elderly and difficult to insulate, and a local authority that already has £12 million of extra budget next year just to keep the lights on and the schools and leisure facilities running. Will he visit the Rhondda, and try to sort out some of those problems?

    As we have heard today, energy security has never been more vital. The journey to net zero is also our journey to energy sovereignty. It will also mean lower bills and more reliable, less volatile prices for our domestic market. Does my right hon. Friend agree that Cornwall will play a vital role, offering lithium, floating offshore wind and deep geothermal energy? Can I extend an invitation to the Prime Minister to visit my businesses and see the work going on in the south-west?

    The Prime Minister’s Government are good at making plans and promises and setting targets, but they are poor at delivery. Will he therefore re-establish the Department of Energy and Climate Change to co-ordinate a whole-Government approach, given that the delivery of net zero is fragmented and not on track?

    Actually, we are on track to meet all the climate targets that we have set. Our track record is that we have met them all. They are the most ambitious in the world and I reassure the hon. Lady that this is a whole-Government effort. Every Minister in the Government is committed to doing what they need to do to deliver on our ambitions.

    In expertise terms, Stroud is the greenest constituency in the greenest county of Gloucestershire, so I welcome the important challenge about what net zero means to everyday people, because we are providing the solutions. Does my right hon. Friend agree that Government programmes such as Jet Zero and expert green tech businesses such as those in Stroud will be pivotal to the UK’s meeting its targets here affordably for our constituents and to helping other countries with climate challenges?

    My hon. Friend is absolutely right, and that is why this can be a win-win. There are already hundreds of thousands of jobs in the UK involved in our transition to net zero. Not only is that good for our economy, but that expertise is helping other countries to make the transition. We need to make sure that all our funding and all our policies are geared towards supporting her fantastic businesses in Stroud, because that is the right thing to do not just for us, but for the world.

    I wrote to the Prime Minister to ask him to make representations to the Egyptian President about the case of my constituent Jessica Kelly’s husband, Karim Ennarah, an Egyptian human rights activist who was imprisoned. We campaigned and managed to get him released, but he is the subject of a travel ban and an asset freeze. First, did the Prime Minister raise that case, along with that of Alaa Abd el-Fattah? Secondly, does the Prime Minister think that it is right that his Government should divert billions of pounds of aid funding away from those who are most vulnerable to climate change and other risks when he has already made aid budget cuts?

    We are not diverting funding; we remain committed to the £11.6 billion of climate finance that we outlined last year. I raised in general the topic of human rights with the President. I am keen to see the release of the detainees, as are other countries, and we will continue to press on all those matters.

    Will the Prime Minister join me in thanking Lord Goldsmith for his work at COP27 to persuade Indonesia—home to globally important forests—to play a key role in the new forests and climate leaders’ partnership? When the Prime Minister goes to Indonesia for the G20 summit, will he discuss with President Jokowi opportunities for energy transition finance, marine energy co-operation and our starting to work together on a green-tinted free trade agreement?

    I think the Labour party’s plans on climate change were called “incredible” and “unrealistic” at the last election. Our plans are practical and credible and they are the most ambitious in the developed world. I feel very good about them, but we need to do this in a realistic way that actually brings people along with us. That is what our targets do.

    I thank my right hon. Friend for his statement. Today, Just Stop Oil protesters have been on the M25 causing disruption and misery to my constituents; that includes causing problems with access to my local hospital. Does he agree that rather than engaging in illegal stunts and endangering lives, those protesters should look at our record of delivery on net zero—from renewables to the Glasgow climate pact—and work with us constructively to deliver on our environmental ambitions?

    I welcome my right hon. Friend’s speech at COP27 and especially his commitment to supporting green private finance projects, but does he agree that we should support private firms who back all sustainable environmental, social and governance principles, not just those exclusively pursuing net zero?

    As the Prime Minister will know, 8 million people die every year from air pollution—63,000 die in Britain—and by 2050 there will be as much plastic in the sea as there are fish. First, will he invoke World Health Organisation air quality standards in Britain as legally enforceable and encourage that at COP27? Will he also look at my Plastics (Recycling, Sustainability and Pollution Reduction) Bill, which is on today’s Order Paper? The Bill suggests that we should not export plastics, that manufacturers should pay the cost of recycling and that we should forge ahead with a global plastics treaty in COP27.

    I am proud that my Vauxhall constituency is leading the way with so many of my constituents concerned about global warming. My local council, Lambeth Council, was the first local authority in London to declare a climate emergency, leading the way on policies to clean up the air. However, this action needs not just local but national and international leadership, so it was sad that the Prime Minister failed to show that through his reluctance to attend COP27. Will he match the commitment from my constituents by showing his commitment and financing to help to address this important issue?

    We have given that commitment, including to £11.6 billion for international climate finance. However, as we have discussed, this is not just about what the Government can do; we need the private sector and private finance to help with the transition. That is why all the changes that we are making to the financial system are equally important, because that is where we will unlock the trillions of dollars required.

    Across the world, economies are facing huge challenges caused by Putin’s war in Ukraine. Does the Prime Minister agree that tackling climate change and achieving energy security are aligned and that the war in Ukraine has made progress on domestic, sustainable energy production even more urgent?

    I thank the Prime Minister very much for his statement. I welcome the news that climate change remains a priority, but will he further assure the House that heating and eating for our elderly and vulnerable will also be a priority? While the Government seek to be a good steward of the environment—I welcome that—they also need to help our people have the basic quality of life that they deserve in this great nation of the United Kingdom of Great Britain and Northern Ireland.

    Nature is declining rapidly, with 1 million species at risk of extinction and with deforestation accelerating in the Amazon and around the globe. If we are to limit global warming to 1.5°C, we must urgently halt and reverse that loss. Will the Prime Minister now support Labour’s call for a net zero and nature test to align all public spending and infrastructure decisions with our climate and nature commitments?

    citing the impact of Russia’s war on Ukraine as an example of war driving deforestation and renewed fossil fuel generation. Will the Prime Minister be supporting Ukraine’s initiative at COP27?

    Given the rapid decarbonisation of the steel industry, there is no business case for the west Cumbria coalmine, a proposal that is on the desk of the Secretary of State for Levelling Up, Housing and Communities. When it comes to protecting our planet, there was never a case for it. We have to keep our fossil fuels in the ground, not dig them up and burn them. The Prime Minister will be aware that, for the third time now, the Government have delayed the decision whether to approve the west Cumbria coalmine. It was delayed until after COP26 and has now been delayed until after COP27. We have been told that 8 December is the hard and fast date for the decision to be made. Will his Government stick to that promise? Will they do the right thing and say no to a new coalmine?

    I thank the Prime Minister for his statement on COP27 and for answering questions for just short of an hour.

    [Source]

  • 2 Nov 2022: Engagements

    The right hon. Gentleman has raised the issue of the North sea. This is a point of significant difference between his party and ours. As Chancellor, I introduced a new levy on oil and gas companies because I believed that that was the right thing to do, but this is the point on which the right hon. Gentleman’s party and ours will always differ: we believe that our North sea producers do have an important role to play in our transition to net zero and are an important source of transition fuels, and we will ensure that we support them to enable them to invest in and exploit those resources for the British people.

    [Source]

    What people across Scotland rightly want to see is both their Governments working constructively together to improve their lives, and that is what we will do on this side of the House. Part of that is actually supporting Scottish energy producers, and the hon. Gentleman is right: they have a vital role to play in enabling our transition to net zero and improving our energy security, and those Scottish companies will have our full support.

    [Source]

    I thank my right hon. Friend for her work and the role she has played in championing our fight against climate change. I agree with her that there is no long-term prosperity without action on climate change and no energy security without investment in renewables. That is why I will attend COP27 next week to deliver on Glasgow’s legacy of building a secure, clean and sustainable future.

    [Source]

  • 1 Feb 2022: Oral Answers to Questions

    The energy price cap has already protected millions of people against rising energy bills. On the taxation of companies, it is probably worth bearing in mind that one thing that the last few months have shown is that there is an opportunity to invest more in providing natural gas as a transition fuel as we make our way to net zero in a measured manner. To that end, we should be encouraging investment in exporting our natural resources, not disincentivising it.

    [Source]

    I am happy to look at the point that the hon. Gentleman raises. I do not think there is a bias against that. The spending review contained billions of pounds for new bus transformation deals across the country and thousands more zero-emission buses. I know that the Prime Minister is passionate about hydrogen buses, so we will look into it and get back to the hon. Gentleman.

    [Source]

  • 2 Nov 2021: Oral Answers to Questions

    I very much appreciate the right hon. Gentleman’s concern about the cost of transitioning to net zero. The Government are also mindful of those costs, and the net zero strategy, which my right hon. Friend the Chief Secretary to the Treasury mentioned earlier, sets out a comprehensive approach to transitioning, backed up by £30 billion of investment. Indeed, as a result of the spending review and the Budget, the Northern Ireland Executive will receive on average about £1.5 billion a year in Barnett consequentials to help to fund priorities as required.

    [Source]

  • 27 Oct 2021: Financial Statement

    12:34

    There is more to becoming a science superpower than just what the Government spend on R&D. Our ambitious net zero strategy is also an innovation strategy, investing £30 billion to create the new green industries of the future. We have just issued our second green bond, making us the third-largest issuer of sovereign green bonds anywhere in the world. London last week was named the best place in the world for green finance. On Monday, the new UK Infrastructure Bank announced its first ever investment: £107 million to support offshore wind in Teesside. To build on this work, one week today I will be hosting global finance ministers and businesses at COP26.

    The second problem is this: companies claimed UK tax relief on £48 billion of R&D spending, yet UK business investment was around half of that, at just £26 billion. We are subsidising billions of pounds of R&D that is not even happening here in the United Kingdom. That is unfair on British taxpayers and it puts us out of step with places like Australia, Canada, Hong Kong, Singapore, Switzerland and the USA, which have all focused their R&D tax reliefs on domestic activity. So from April 2023, we are going to do the same, and incentivise greater investment here at home. So a £22-billion investment in R&D, the net zero strategy, the future fund, Help to Grow, more regional finance, unlocking institutional capital, a more competitive visa system and a modernised R&D tax credits regime—enough action to prove the hypothesis that we are making this country a science and technology superpower.

    [Source]

  • 12 Jul 2021: Official Development Assistance Budget

    Spending at 0.5% of gross national income for this year means we will still spend more than £10 billion to improve global health, fight poverty and tackle climate change. In 2020 we were one of only two G7 countries to meet the 0.7% target, and the only one to do so each year since 2013. Based on the latest OECD data, spending 0.5% GNI as ODA in 2021, as we plan to do, would mean that the UK is still the third largest donor in the G7 as a percentage of GNI.

    [Source]

  • 6 Jul 2021: Fiscal Risks Report 2021

    In accordance with the charter for budget responsibility, the OBR has today published its third fiscal risks report (FRR). FRR 2021 provides an update on the risks identified in previous reports, alongside focused coverage of three areas of fiscal risk: the coronavirus pandemic, climate change, and the cost of Government debt. I am grateful to the Budget Responsibility Committee, and staff of the OBR, for their work in preparing this report, which ensures that the UK continues to be at the forefront of fiscal transparency and management during these unprecedented times. The report was laid before Parliament earlier today and copies are available in the Vote Office. The Government will respond formally to FRR 2021 within the next year.

    It is clear that unmitigated climate change is another significant fiscal risk and decarbonisation is essential for sustainable long-term growth and therefore also for the health of the public finances. The fiscal consequences of transition to net zero will need to be managed in line with the Government’s broader fiscal strategy. The Government will publish our net zero strategy later this year, which will set out more detail on how we will meet our net zero target.

    [Source]

  • 17 Jun 2021: UK Infrastructure Bank

    The bank, owned and backed by the taxpayer, will support and enable private and public investment in infrastructure, with core objectives to help tackle climate change, particularly meeting our net zero emissions target by 2050, and to support regional and local economic growth. The Government and the bank have also set out the institution’s investment principles today which will guide how it delivers its objectives.

    [Source]

  • 26 Apr 2021: Kalifa Review of UK FinTech

    Launching, in conjunction with the City of London Corporation, the second phase of the Digital Sandbox pilot, inviting applications to test proof of concepts to solve sustainability and climate change financial challenges.

    [Source]

  • 3 Mar 2021: Financial Statement

    12:34

    We have also asked Dame Clara Furse to establish a new group to position the City as the global leader for voluntary, high-quality carbon offset markets. Underpinning all this will be an updated monetary policy remit for the Bank of England. It reaffirms its 2% target, but now it will also reflect the importance of environmental sustainability and the transition to net zero.

    [Source]

  • 26 Jan 2021: Environmentally Sustainable Economic Growth

    My hon. Friend is absolutely right—our 10-point plan can create hundreds of thousands of jobs up and down the country. He is also right that we can lead the world in this journey. We have been one of the fastest countries to decarbonise over the past few years and are one of the leading countries not only in phasing out coal and internal combustion engine vehicles but in offshore wind and carbon capture and storage. Where Britain goes, hopefully the world can follow.

    [Source]

  • 1 Dec 2020: Topical Questions

    I am happy to provide that information. The new national infrastructure bank will invest in projects like transport, digital infrastructure and renewable energy through a series of loans, guarantees, equity and other hybrid products. The levelling-up fund will fund what I call the infrastructure of everyday life—projects up to £20 million that can be delivered quickly—make a tangible difference to our constituents and increase the pride we feel in the places we call home.

    [Source]

  • 25 Nov 2020: Spending Review 2020 and OBR Forecast

    12:45

    To build housing, we are introducing a £7.1 billion national home building fund, on top of our £12.2 billion affordable homes programme. We will deliver faster broadband for over 5 million premises across the UK, better mobile connectivity with 4G coverage across 95% of the country by 2025, the biggest ever investment in new roads, upgraded railways, new cycle lanes and over 800 zero-emission buses. Our capital plans will invest in the greener future we promised, delivering the Prime Minister’s 10-point plan for climate change. We are making this country a scientific superpower, with almost £15 billion of funding for research and development, and we are publishing today a comprehensive new national infrastructure strategy. To help finance our plans, I can also announce that we will establish a new UK infrastructure bank. Headquartered in the north of England, the bank will work with the private sector to finance major new investment projects across the United Kingdom, starting this spring.

    The spending review announced today sets us on a path to deal with the material matters of Government and it is a clear statement of our priorities, but encouraging the individual and community brilliance on which a thriving society depends remains, as ever, a work unfinished. We in government can set the direction. Better schools, more homes, stronger defence, safer streets, green energy, technological development, improved rail and enhanced roads: all investments that will create jobs and give every person in this country the chance to meet their potential. But it is the individual, the family and the community that must become stronger, healthier and happier as a result. This is the true measure of our success. The spending announced today is secondary to the courage, wisdom, kindness and creativity it unleashes. These are the incalculable but essential parts of our future, and they cannot be mandated or distributed by Government. These things must come from each of us, and be shared freely, because the future—this better country—is a common endeavour.

    [Source]

  • 9 Nov 2020: Future of Financial Services

    16:14

    Finally, this new chapter means putting the full weight of private sector innovation, expertise and capital behind the critical global effort to tackle climate change and protect the environment. We are announcing the UK’s intention to mandate climate disclosures by large companies and financial institutions across our economy by 2025, going further than recommended by the taskforce on Climate-Related Financial Disclosures and we will be the first G20 country to do so. We are implementing a new green taxonomy, robustly classifying what we mean by “green” to help firms and investors better understand the impact of their investments on the environment. To meet growing investor demand, the UK will, subject to market conditions, issue our first ever sovereign green bond next year. This will be the first in a series of new issuances, as we look to build out a green curve over the coming years, helping to fund projects to tackle climate change, finance much-needed infrastructure investment and create green jobs across the country.

    We have set out today our vision for this new chapter in the UK’s financial services industry, a vision of a global open industry where British finance and expertise is prized and sought after in Europe and beyond, a technologically advanced industry, using all its ingenuity to deliver better outcomes for consumers and businesses, a greener industry, using innovation and finance to tackle climate change and protect our environment and, above all, an industry that serves the people of this country, acting in the interests of communities and citizens, creating jobs, supporting businesses and powering growth as we direct all our strength towards economic recovery. I commend this statement to the House.

    [Source]

  • 14 Jul 2020: OBR 2020 Fiscal Sustainability Report and response to OBR 2019 Fiscal Risks Report

    In the longer-term, climate change remains a significant challenge for the wider public finances. Demonstrating the Government’s commitment to mitigating climate change, in November 2019, the Chancellor launched an HM Treasury review into how the transition to net zero greenhouse gas emissions will be funded and where the costs will fall. Spring Budget allocated £640 million for tree planting and peatland restoration, over £1 billion for ultra-low emission vehicles and introduced tax measures to encourage greater energy efficiency and reduce plastic waste. The UK is also increasing its international climate finance support for developing countries to at least £11.6 billion. To improve the UK’s climate resilience, the Government announced a doubling of investment in flood and coastal defences in England to £5.2 billion over the next six years. The devolved Administrations will benefit from the Barnett consequential of this substantial increase in Government investment in flood and coastal defences.

    [Source]

  • 8 Jul 2020: Economic Update

    12:38

    On top of the £2 billion voucher scheme, I am releasing £1 billion of funding to improve the energy efficiency of public sector buildings, alongside a £50 million fund to pilot the right approach to decarbonise social housing. Taken together, we expect these measures to make more than 650,000 homes more energy efficient; to save households up to £300 a year on their bills; to cut carbon by more than half a megatonne per year—equivalent to taking 270,000 cars off the road; and, most importantly right now, to support around 140,000 green jobs. A £3 billion green jobs plan to save money, cut carbon and create jobs.

    [Source]

  • 23 Jun 2020: Financial Services Update

    Leaving the EU means the UK has taken back control of the rules governing our world-leading financial services sector. The UK has always championed and remains committed to the highest international standards of financial regulation. The financial services sector plays a crucial role in supporting the wider economy, creating jobs across the UK, supporting SMEs, contributing taxes, driving regional growth and investment, tackling climate change and embracing technology and innovation. The UK’s financial services sector has also been at the forefront of our response to the economic impact of covid-19, extending more than £35 billion of credit to provide fundamental support to businesses and offering crucial forbearance on mortgages and consumer credit products. Frontline staff have worked to keep bank and building society branches open throughout the pandemic, ensuring that people all across the UK could access the vital financial services they need.

    [Source]

  • 11 Mar 2020: Financial Statement

    12:34

    On inflation, the OBR forecasts 1.4% this year, increasing to 1.8% next year and then, for the rest of the forecast period, remaining on or around target. I am sure that the whole House will join me in taking the opportunity to thank Mark Carney, the Governor of the Bank of England, for his seven years of dedicated public service. We congratulate him on his new role as finance adviser for COP26 and welcome his successor Andrew Bailey, who takes up his post on Monday.

    There can be no lasting prosperity for our people if we do not protect our planet, so the fourth part of our plan for prosperity is to create the high-skill, high-wage, low-carbon jobs of the future; to level up, with completely new industries in our regions and nations; and to raise our productivity and lift our quality of life even as we cut our emissions. The Treasury’s net zero review will set out the Government’s strategic choices ahead of COP26 later this year. Today’s Budget takes the first steps.

    First, we will increase taxes on pollution. Electricity is now a cleaner energy form than gas, but our climate change levy, paid by companies, taxes electricity at a higher rate. As another step towards equalising the rates and encouraging energy efficiency, from April 2022 I am freezing the levy on electricity and raising it on gas. I will support the most energy-intensive industries to transition to net zero by extending the climate change agreements scheme for a further two years. To tackle the scourge of plastic waste, we will deliver our manifesto promise to introduce a new plastics packaging tax. From April 2022, we will charge manufacturers and importers £200 per tonne on packaging made of less than 30% recycled plastic. That will increase the use of recycled plastic in packaging by 40%—equal to carbon savings of nearly 200,000 tonnes.

    [Source]

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