Oral Answers to Questions

Perran Moon Excerpts

Tuesday 18th November 2025 Commons Chamber

[Perran Moon (Camborne and Redruth) (Lab)]

4. What estimate he has made of the value of private sector investment in clean energy since 4 July 2024.

[The Parliamentary Under-Secretary of State for Energy Security and Net Zero (Chris McDonald)]

I know from my time in industry that what business and industry need in order to invest is certainty, and this Government have provided that certainty. Over £52 billion of private sector investment has been won into clean power, thanks to the certainty of our clean power mission. That is why the Conservatives’ decision to trash our reputation as climate leaders was roundly rejected by business groups and the energy industry. We are delivering jobs and growth; they would put all of that at risk.

[Perran Moon]

Critical minerals are essential to power our renewable energy future. Since the general election, the National Wealth Fund has invested £28 billion into the South Crofty tin mine and £35 billion into Cornish Lithium, both in my constituency of Camborne, Redruth and Hayle. This is alongside major clean energy investment nationwide, including £33 billion from SSE, with 80% of that going into upgrading the UK’s power grid. Does the Minister agree that this is exactly the kind of long-term investment that we need, using public funding to crowd in private investment, which was inexplicably ignored by the Conservatives and would be cancelled by Reform?

[Chris McDonald]

The Government recognise the important role of the public sector and private sector working together to unlock these benefits, such as in critical minerals, as my hon. Friend mentioned. I thank him for his invitation to visit some of the companies that he mentioned in Cornwall, and I look forward to taking up that opportunity for a visit very soon.