Rishi Sunak (Conservative)

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.

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The Financial Secretary to the Treasury (Lucy Frazer)

I am pleased to have an opportunity to underline the Government’s commitment to reducing carbon emissions through taxation and the UK’s success in limiting global emissions at COP26. The Government have reduced carbon emissions through their carbon pricing policies, including through the UK emissions trading scheme. We are committed to delivering on our carbon targets, and our net zero strategy sets out a roadmap for reaching net zero by 2050.

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Tony Lloyd (Rochdale) (Lab)

T6. Government Ministers will know that bus manufacture is an important skilled employment base in the north of England, Scotland and Northern Ireland. The zero-emission bus regional areas programme, which is due to bring in innovation in engine technology, is supposed to be technologically neutral, even though we know that hydrogen buses almost certainly create more jobs in the UK. In that context, can the Chancellor tell us why every scheme so far has been for electric vehicles and not hydrogen technology? Is that a Treasury bias or a bias in the Department for Business, Energy and Industrial Strategy? ( 905367 )

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Rishi Sunak (Conservative)

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.

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