(8 months, 1 week ago)Read Full debate
I agree with my hon. Friend and recognise his long-standing campaigning and his contribution to creating a clean environment. In the quest to pursue the possibilities of new technologies and their research and development, I agree that marine and tidal technologies have an important role to play. Since 2010, we have made available over £90 million in grant funding, and we will continue not only to do that but, working with our universities and businesses, to accelerate the research and development that is taking place in all parts of the United Kingdom.
I acknowledge the right hon. Gentleman’s experience and contribution to the cross-party efforts that have been made in this area. When it comes to wind, we sometimes have to make some strategic calls, and the decision we took to provide funding and incentives for the development of the offshore wind industry has allowed it to develop to the extent that we are now the world leader, creating jobs right across the country, so it was right to champion offshore wind. He also mentions the City, and it is important to recognise the contribution and the leadership that the green finance expertise in the City of London offers to the world. The City will be extremely important in financing many of the investments that will be needed in the years ahead.