Wednesday 21st October 2026

(1 day, 22 hours ago)

Commons Chamber
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Michael Shanks Portrait Michael Shanks
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As a Government, we are making it as attractive as possible to invest in clean energy sectors. That is why we have seen more than £100 billion-worth of private investment in the clean energy transition since we came into Government—£110 billion of investment in two and a half years. It is clear that people see the clean energy transition as a route for investment and helping to build our energy security. I would say to all those, pension funds or others, who do not take the economic opportunity seriously that there is a huge opportunity here to build the country we want to see and to get good economic returns as a result. We have set up things such as the National Wealth Fund and Great British Energy to help crowd in that investment.

Chris Hinchliff Portrait Chris Hinchliff (North East Hertfordshire) (Lab)
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It is not quite the response to catastrophic climate change, wildfires and drought that I had in mind, but I accept that that appears to be a minority view in this place. Nevertheless, despite all the sophistry, the inconvenient truth remains that this choice means that more fossil fuels that are currently buried will be extracted and burned to pollute our planet. Does the Minister understand why so many people find it hard to believe that the hope of a liveable planet will win out against short-termism and deluded self-interest?

Michael Shanks Portrait Michael Shanks
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I do not agree with that, actually. I will give the same answer that I gave to the Green party. We absolutely believe in tackling the climate crisis and in building our way out of a dependence on fossil fuels, but I cannot just click my fingers and make that happen overnight. We have to build this infrastructure over time, and there is a transition period in which gas will remain the main source of energy for people heating their homes. We have to move even faster to change that by electrifying heating to bring down people’s bills and get us off fossil fuels. I am open to any ideas my hon. Friend might have on how we can go faster on that.