Low-carbon Industries Investment 2023-05-23
2023-05-23
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The MP is concerned about the potential negative impact of the US Inflation Reduction Act on investment in UK's low-carbon sectors. He references a comment by Stellantis regarding urgent investment needs for electric vehicle production and cites the Faraday Institution's report indicating that between five to ten gigafactories are needed in the UK.
What assessment he has made of the potential impact of the US Inflation Reduction Act on levels of investment in low-carbon industries. This is a global race, and I fear we are being left behind due to urgent investment needs highlighted by Stellantis for electric vehicle production. The Faraday Institution reports that five to ten gigafactories are needed in the UK, but currently only one or two are planned.
Nearly £200 billion has been invested in low-carbon sectors since 2010, which is 50% higher than US investment as a share of GDP. The UK is ahead on EV transitions with more sales and plans to end petrol and diesel vehicle sales by 2030.
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Assessment & feedback
Number of gigafactories needed to save the automotive sector was not specified
Response accuracy
Q2
Partial Answer
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Context
The MP highlights that the US has created significantly more green jobs since passing the Inflation Reduction Act, expressing concern about British business worries over losing competitiveness. He challenges the Secretary of State's stance on the IRA being 'dangerous'.
British business is deeply worried due to fewer UK green job creations compared to post-IRA US figures. Can the Secretary of State explain why he described the Inflation Reduction Act as 'dangerous'? Is not the real danger inaction?
I cleared up that I only said aspects were protectionist. In reality, US does not have any major offshore wind farms; they are all built in the UK due to our lead in this area and investment schemes like FLOWMIS for manufacturing.
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Assessment & feedback
Explanation of IRA dangers was evaded
Changed Subject
Response accuracy
Q3
Partial Answer
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Context
The MP points out that the UK has not created as many green jobs compared to post-IRA US figures. He questions the Secretary of State's initial negative stance on IRA and argues for proactive investment in industrial strategies.
US created 10 times more green jobs than UK since August due to IRA passage. The Secretary's previous description of IRA as 'dangerous' was misleading, is it not? Is our real danger not standing idle while others take the lead?
The former Energy Secretary only managed 7% electricity from renewables under Labour, while we are at 50%. We have the world's first floating wind farm, largest offshore wind project, and invested £160 million through FLOWMIS for manufacturing.
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Assessment & feedback
Explanation of IRA dangers was evaded; instead focused on past achievements
Changed Subject
Response accuracy
Q4
Partial Answer
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Context
The MP uses the Kincardine floating wind farm to illustrate a failure in developing a local supply chain. He argues that lack of investment by Government in green industries is costing jobs.
Kincardine offshore wind farm's foundations were made in Spain, turbines in Rotterdam, and towed into Scottish waters. This shows no UK industrial strategy or port investment. Will we win the race with this approach?
Failure to develop supply chain could be linked to former Energy Secretary's record on renewables. We have world's first floating wind farm, largest offshore wind project, invested £160 million through FLOWMIS for manufacturing.
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Assessment & feedback
Public investment in green industry was not addressed
Changed Subject
Response accuracy