Questions & Answers
Q1
Direct Answer
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Context
The MP is concerned about fiscal steps to support the growth of the UK's energy sector.
What fiscal steps his Department is taking to support the growth of the energy sector.
Since March 2021, the Government have committed a total of £30 billion in public investment for the green industrial revolution. Since then, the Chancellor has announced £6 billion for clean heat and improving energy efficiency, and £20 billion for carbon capture, usage and storage. Alongside the launch of Great British Nuclear and the small modular reactor competition, the Government have also invested £1 billion in Sizewell C.
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Assessment & feedback
Response accuracy
Q2
Partial Answer
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Context
According to a recent survey, 90% of North sea oil and gas operators have reduced spending since the energy profits levy was introduced. The MP welcomes recent announcements on new North sea licences and asks about ESIM and consultation response timeline.
Can my hon. Friend tell me when we can expect a response to the consultation on the ESIM and what plans this Government have to legislate for the mechanism? Will he meet me to discuss how investor confidence in our home-grown industry can be assured further?
Introducing the price floor for the oil and gas industry comes from the principle that, while it is right that oil and gas companies pay a higher share of tax during exceptional times, it is also right that when prices fall to normal levels, so do their tax rates. That is why we introduced the price floor in June and we have extensively engaged with the industry since then. I know that legislating will provide some certainty; we are looking carefully at that and will respond soon. I will always be happy to meet with my hon. Friend.
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Assessment & feedback
Timing of legislative plans
Looking Carefully
Response accuracy
Q3
Partial Answer
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Context
The Labour party and the Co-operative party have set out a shared ambition for more community-owned energy. The MP references Denmark and Germany as examples of community-owned wind energy.
That is not new: in Denmark, 52% of wind energy is community owned, and in Germany half of all onshore wind is community owned. Will the Government do far more to join that ambition of community-owned energy here in Britain?
We have ambitious plans for energy generation and our energy security. We want to bring communities with us, and we look at all options as we do so.
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Assessment & feedback
Specific steps towards community-owned energy
Response accuracy