UK Parliament / Open data

Public Ownership of Energy Companies

I refer the hon. Gentleman to the facts as I have set them out. We are attracting billions of pounds of investment into clean energy—into a whole raft of new renewables. I do not think anyone would argue that the UK is struggling to attract international investment. What we need to do, which I completely accept, is not just to accelerate the deployment of wind and solar, but to continue to invest in the technologies of tomorrow to ensure that we are able to increase global and UK energy supply for a modern society and economy in a way that is clean, green and smart and that develops new jobs.

I am surprised that Opposition Members are not more excited by the opportunities in this sector for Scotland, which would be recklessly undermined by an uncosted, unthought-through plan for both nationalisation and independence, without credibility for how those plans are going to be funded. That is why our energy security strategy sets out a long-term plan for the whole UK that reduces our vulnerability to international energy prices by reducing our dependence on imported oil and gas.

We know that this is a very difficult time for families and businesses who are struggling, and that this issue is a matter of genuine public concern—as this petition rightly shows. However, I hope that I have reassured the hon. Members who are present in Westminster Hall and the constituents who they nobly represent that we are addressing this issue with the seriousness that it deserves.

Type
Proceeding contribution
Reference
721 c271WH 
Session
2022-23
Chamber / Committee
Westminster Hall
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