Asked by: Lord Whitehead (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the level of support required to develop the UK's green hydrogen economy.
Answered by Kemi Badenoch - Leader of HM Official Opposition
As outlined in BEIS’ Energy White Paper, the Government intends to take a ‘twin-track’ approach to developing a hydrogen economy, focusing efforts on both “blue” and “green” hydrogen. This is expected to grow the UK’s hydrogen supply chain, build sector confidence, and enable scaling up to ensure the longevity of a hydrogen economy.
Furthermore, the Prime Minister’s Ten Point Plan highlighted the significance of hydrogen as a priority technology and the Government recognises the key role it could play in the transition to a net zero economy by 2050. Therefore, the Government has committed to work with industry to aim for 5GW of hydrogen capacity by 2030.
At the 2020 Spending Review, the Chancellor provided £240m for a Net Zero Hydrogen Fund to further the development of a hydrogen economy. The Government is also in the process of developing business models to support the creation of a hydrogen market. Further details of these support mechanisms will be provided in the summer alongside a Hydrogen Strategy.
Asked by: Lord Whitehead (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential effect of the Solent Freeport on employment levels at operators of lifeline ferry services to the Isle of Wight.
Answered by Steve Barclay
The government is pleased to have announced the locations of 8 new English Freeports at Budget, including Solent. These new Freeports will create jobs in deprived communities across the country.
Asked by: Lord Whitehead (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much of the £200m his Department allocated to the UK Charging Infrastructure Investment Fund remains to be disbursed.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The UK Charging Infrastructure Investment Fund (CIIF) was launched in August 2019, and Zouk Capital LLP was appointed to manage £200m of Treasury funds and raise matching funds from private investors.
The CIIF has made two investments so far. The first investment was into Instavolt in August 2019. Instavolt is the UK’s largest owner and operator of a nationally distributed rapid EV charging network. The second investment was into Liberty Charge which focuses on providing on-street charging facilities in large cities and towns where many residents have no access to off-street parking.
Zouk is working on a number of other investment opportunities and further capital injections will be made into Instavolt and Liberty Charge. The investment amounts are confidential.
Asked by: Lord Whitehead (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of the Deposit Return Scheme and its effect on carbon emissions as part of its Net Zero Review.
Answered by Kemi Badenoch - Leader of HM Official Opposition
The government’s 2019 manifesto committed to introduce a deposit return scheme (DRS) to incentivise people to recycle plastic and glass drinks containers, subject to further evidence and analysis. The objectives of this system include boosting recycling levels, offering greater opportunities to collect higher quality, uncontaminated materials in greater quantities, thus promoting a circular economy, and reducing littering. The specific details of a DRS will be developed further and presented in a second consultation in 2021.
HM Treasury’s Net Zero Review is not considering detailed policies to decarbonise specific sectors, including the planned deposit return scheme. This is in line with the Review’s terms of reference, published in November 2019 and available at: https://www.gov.uk/government/publications/net-zero-review-terms-of-reference/hm-treasurys-review-into-funding-the-transition-to-a-net-zero-greenhouse-gas-economy-terms-of-reference. The Review will instead explore how the transition to a net zero economy will be funded and where the costs will fall. It will look at options for a balance of contributions between households, businesses and the taxpayer, and how to maximise economic growth opportunities from the transition. The Review will be published in spring 2021. HM Treasury published an interim report in December 2020 which set out our approach and analysis which will inform the final report.
Asked by: Lord Whitehead (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will place in the Library the contract the Government has with Zouk Capital for the management of the UK Charging Infrastructure Investment Fund.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The UK Charging Infrastructure Investment Fund was launched in August 2019, and Zouk Capital LLP was appointed to manage £200m of Treasury funds and raise matching funds from private investors. The contract between the Government and Zouk Capital is confidential.