Commons Sense

House of Commons · Ministers' Questions

National Wealth Fund: Opportunities for Industry

Tuesday 29 April 2025 · 4 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 4 Not answered 0

Key points

  • Rachel Hopkins asked about incentivising investment in renewable energy to support economic growth in Luton and Bedfordshire, including the expansion of Luton airport and the Universal Studios project.
  • Mr Angus MacDonald inquired about the disparity in electricity prices between urban and rural Britain, noting that rural residents pay significantly more for energy.
  • The Minister acknowledged the electricity price disparity but stated that the issue was inherited from the previous government and that securing clean power is key to reducing energy bills.

Topics (select to filter)

Questions & Answers

Q1 Rachel Hopkins Lab Luton South and South Bedfordshire
Economy Climate Business & Trade
Context

Labour Government supports economic growth in Luton and Bedfordshire with projects like Luton airport expansion and Universal Studios. The question aims to align these developments with renewable energy investment.

Question

Our Labour Government are driving economic growth in Luton and Bedfordshire through our support for the sustainable expansion of Luton airport and the exciting new Universal Studios. Does the Minister agree that we need to match those positive developments with incentivising investment in renewable energy to ensure that the pursuit of growth contributes to meeting our climate commitments?

Answer from The Minister for Industry (Sarah Jones)

The Government welcome the plans to invest in and around Luton, including the expansion of Luton airport and the incredibly exciting Universal theme park. These projects, along with the mass clean power investments we are delivering, will grow the economy and deliver direct benefits to the communities that host this vital clean power infrastructure which will take all of us off the fossil fuel market rollercoaster.

Partly answered
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Q1 Rachel Hopkins Lab Luton South and South Bedfordshire
Economy Climate Business & Trade
Context

Labour Government supports economic growth in Luton and Bedfordshire with projects like Luton airport expansion and Universal Studios. The question aims to align these developments with renewable energy investment.

Question

Our Labour Government are driving economic growth in Luton and Bedfordshire through our support for the sustainable expansion of Luton airport and the exciting new Universal Studios. Does the Minister agree that we need to match those positive developments with incentivising investment in renewable energy to ensure that the pursuit of growth contributes to meeting our climate commitments?

Answer from The Minister for Industry (Sarah Jones)

The Government welcome the plans to invest in and around Luton, including the expansion of Luton airport and the incredibly exciting Universal theme park. These projects, along with the mass clean power investments we are delivering, will grow the economy and deliver direct benefits to the communities that host this vital clean power infrastructure which will take all of us off the fossil fuel market rollercoaster.

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Q2 Angus MacDonald Lib Dem Inverness, Skye and West Ross-shire
Energy
Context

The electricity price disparity between urban and rural Britain is highlighted as a major issue by the questioner. The average domestic user of electricity pays 24p per kilowatt, whereas mains gas users pay 6p.

Question

The domestic user of electricity pays 24p per kilowatt; the domestic user of mains gas pays 6p. People who live in urban Britain buy their energy for a quarter of the price paid by people in rural Britain. This is a massive problem, and I wonder whether the Minister could explain how the Government will address it.

Answer from The Minister for Industry (Sarah Jones)

I thank the hon. Gentleman for that question, though it was not quite about the National Wealth Fund. He is right to highlight electricity prices. This is a challenge for industry and one we inherited from the previous Government. The best way to bring those bills down is to secure clean power by 2030, but he is right to highlight the challenges, and that is what we are trying to fix.

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Q2 Angus MacDonald Lib Dem Inverness, Skye and West Ross-shire
Energy
Context

The electricity price disparity between urban and rural Britain is highlighted as a major issue by the questioner. The average domestic user of electricity pays 24p per kilowatt, whereas mains gas users pay 6p.

Question

The domestic user of electricity pays 24p per kilowatt; the domestic user of mains gas pays 6p. People who live in urban Britain buy their energy for a quarter of the price paid by people in rural Britain. This is a massive problem, and I wonder whether the Minister could explain how the Government will address it.

Answer from The Minister for Industry (Sarah Jones)

I thank the hon. Gentleman for that question, though it was not quite about the National Wealth Fund. He is right to highlight electricity prices. This is a challenge for industry and one we inherited from the previous Government. The best way to bring those bills down is to secure clean power by 2030, but he is right to highlight the challenges, and that is what we are trying to fix.

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