Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate has been made of the value of the Energy Wealth Fund over the next i) year ii) 5 years and iii) 10 years.

The Energy Wealth Fund (EWF) will be linked to the Government's future revenues from North Sea projects, ensuring investment in the energy transition. To support this, an additional £2 billion downpayment for the EWF will be provided to the National Wealth Fund. The government will keep new revenues from the North Sea under review and determine at future Budgets what level of top-ups can be made to the EWF as a result.