Ed Miliband
MP for Doncaster North · Labour · United Kingdom
“Gentleman raises the issue of arms, and I talked in my statement about the double lock. I want to take on his point on the F-35s. To be clear with the House, we stopped providing direct parts to Israel’s F-35 programme in October 2024, under my right hon. Friend the Member for Tottenham (Mr Lammy) when he was Foreign Secretary.”
“I thank the shadow Foreign Secretary for his response. It is our first time opposite each other at the Dispatch Box, so let me congratulate him on his appointment—he has a proud record in Parliament as Security Minister and Chair of the Foreign Affairs Select Committee, and brings great expertise to this House.”
“Israel has the right not to live in fear of vile terrorism, and the Israeli state has the right to protect its people and defend its territory, but that cannot justify what has happened in Gaza. Over 70,000 people have been killed, at least 20,000 of them children—20,000.”
“Our extension of the global human rights sanctions regime will enable us to target those responsible for violations of international humanitarian law, whether in Gaza or anywhere else in the world.”
“The right hon. Gentleman has an honourable record on this issue. I will quickly clip through his questions, knowing the constraints on time, Madam Speaker. I agree with him on the World Central Kitchen. It is appalling that the investigation has been closed down.”
“Iran must never have a nuclear weapon, so we are also acting this week, alongside our allies, to report Iran to the UN Security Council for its nuclear violations, and I can announce today that we are reimposing major economic sanctions on Iran in line with the European Union and the United States.”
The complete record
Every one of 2,382 lines we hold for Ed Miliband, in date order, each linked to its source. Free to read, in full, without an account. Page 25 of 48.
“The proposed legislation we are considering today will not cut bills or give us energy security, drives a coach and horses through our climate commitments and learns nothing from the worst cost of living crisis in memory, which the British people are still going through—a cost of living crisis caused by our dependence on fossil fuels. Since the launch of the Bill two months ago, the case for it has disintegrated on contact with reality. Let me remind the House of the series of unfortunate events that has befallen the Bill since its publication. On day one—launch day—the Energy Secretary went on TV with the big reveal, telling the public the Bill would not cut bills. Next we discovered from confidential minutes of the North Sea Transition Authority that it thought the Bill was unnecessary and compromised its independence.”
“I beg to move an amendment, to leave out from “That” to the end of the Question and add: “this House, while affirming the need for urgent action to tackle the UK’s energy insecurity, the cost of living crisis, and the climate crisis, and for a managed, fair and prosperous transition for workers and communities, declines to give a Second Reading to the Offshore Petroleum Licensing Bill because mandating annual oil and gas licensing rounds will not reduce energy costs for households and businesses as the Secretary of State for Energy Security and Net Zero has stated, will not enhance energy security, offers no plan for the future of the UK’s offshore energy communities, will ensure the UK remains at the mercy of petrostates and dictators who control fossil fuel markets, is entirely incompatible with the UK’s international climate change commitments and is a totally unnecessary piece of legislation which will do nothing to serve the UK’s national interest.” I want first to express my deep condolences to the families of the two people killed by storm Isha and my sympathies to all those facing power cuts and disruption from the storm.”
“That is not the NSTA position, as I have discussed with it. Next, Lord Browne, the former CEO of BP, attacked the Bill and said it was “not going to not make any difference” to energy security. Then Britain’s most respected climate expert, Lord Stern, pilloried it as “a deeply damaging mistake”. Then on the eve of COP—the conference of the parties—the former Prime Minister the right hon. Member for Maidenhead (Mrs May), who signed net zero into law, said she disagreed with the Bill; to my knowledge, she does not support Just Stop Oil.”
“We have a risible two-clause Bill that she knows will not make any difference to our energy security, because everyone who knows anything about this subject says so. As the Bill has fallen apart, the Government have thrashed around to try to find a rational justification, and they have made one futile argument after another. Let us take each in turn. The first argument was that the Bill will cut prices. In case the House is thinking, “Did they really make that claim?”, the claim was made by the Prime Minister in a tweet. At 9.57 am on launch day, he said that the Bill will “help reduce energy bills as we’re less exposed”—”
“It is not so much the oil and gas extraction Bill but the Conservative MP extraction Bill that she is putting forward today. The former net zero tsar said: “I can no longer condone nor continue to support a government that is committed to a course of action that I know is wrong and will cause future harm.” We should take all these voices—Lord Browne, the former Prime Minister, the former net zero tsar and the former COP President— [ Interruption. ] I will come to all the arguments that the Secretary of State made, if she will give me a minute, as I develop my argument. The bigger point is that we face massive challenges as a country, but it is not the scale of our problems that is so apparent today, but the smallness of the Government’s response.”
“Of course I don’t. Then the former COP president— [Interruption.] Let’s be serious. Then the former COP president the right hon. Member for Reading West (Sir Alok Sharma), a man respected around the world who we were lucky to have playing that role at COP26, said the Bill was “smoke and mirrors…not being serious…the opposite of what we agreed to do internationally”. Finally, their own net zero tsar—the man they trusted to guide them on questions of energy—is so disgusted by the Bill that he is not in the Chamber today. In fact, he is so ashamed that he has fled to the Chiltern Hundreds. That is certainly getting a long way away from the right hon. Lady the Secretary of State and her policies. It shows how far people will go.”
“The Secretary of State nods, but I put on record my thanks to her, because she has been an internal one-woman rebuttal unit against the Prime Minister. She went on breakfast TV—before the tweet, so we might call it a prebuttal—and said that the Bill “wouldn’t necessarily bring energy bills down, that’s not what we’re saying.” She is right, because oil and gas is traded on international markets.”
“The Government have not generated the jobs that British workers deserve, and their fossil fuel policy and net zero roll-back has sent a terrible message to investors around the world. This is what Amanda Blanc, the chief executive officer of Aviva and the head of its UK transition plan taskforce, says about oil and gas and the Government’s position: “This puts at clear risk the jobs, growth and the additional investment the UK requires to become more climate-ready.” It is Britain losing the global race in clean energy jobs that will destroy the future of oil and gas communities. The Government have no proper plan for those workers; Labour does have a proper plan.”
“The right way to have a managed transition in the North sea is to carry on using existing fields—a Labour Government will do that—and to have a plan for North sea workers by driving forward with jobs in the industries of the future: offshore wind, carbon capture and hydrogen. But that is not what the Government have done. We had a graphic example of that last week. The world’s largest floating wind prototype sits off Peterhead—that is a good thing—but it needed maintenance, so where did the maintenance happen? Not in Scotland, and not anywhere in the UK; it has been towed back to Norway. That is the scale of their industrial policy failure; we know it very well.”
“We should admit a truth: the fossil fuel market is not just deeply unstable for consumers, as we have seen over the last two years, but deeply unstable for workers. It is a total illusion that new licences will somehow guarantee jobs for North sea workers. In the last 10 years, the number of people working in oil and gas has more than halved. The International Energy Agency predicts a peak in fossil fuel demand by 2030. That is why its head said: “New large-scale fossil fuel projects not only carry major climate risks, but also business and financial risks for the companies and their investors.” That applies to workers, too.”
“All this absolute codswallop about the Bill guaranteeing our energy security and somehow guaranteeing 200,000 jobs is risible nonsense. Here is the thing. We have had a real revelation in this debate—the Government have admitted the truth—which is that the vast majority of oil is not used in this country; it is exported elsewhere, and 70% of our remaining reserves are oil, not gas. The idea that this makes any difference to our energy security is nonsense—these are private companies selling on the private market—and the Government have absolutely no response. The fourth bad argument is that the Bill will somehow protect jobs. That is wrong. We owe it to oil and gas communities to protect them in the transition, but given the Conservatives’ record in constituencies such as mine, we will not take lectures from them on just transitions.”
“According to the Office for Budget Responsibility, the windfall tax receipts from oil and gas companies raised £25 billion, and the cost of Government support is more than £70 billion or, the Government say, £104 billion. The idea that our dependence on fossil fuels can be justified by the tax revenues we get, when they have spent £100 billion trying to help people, is obviously nonsense. There is a third bad argument, and again we heard it today, which is that somehow this Bill strengthens our energy security. Again, it is important to have a few facts in this debate. Here are the facts: the UK’s North sea gas production is set to fall with new licences by 95% by 2050, or without new licences by 97%. That is the equivalent of four days of our current gas demand.”
“That is great, because the Secretary of State anticipates my rebuttal of the second bad argument for this Bill, which is the argument she has just gone on to make. She said that the tax revenues we get from fossil fuels justify this policy, and we have heard it again today. If anything, that is an even more complete load of nonsense than the Prime Minister’s argument, because these are the facts: it is our reliance on fossil fuels that has caused rocketing energy bills. That meant that the Government were forced to step in to provide support for households and businesses [ Interruption. ] Ministers should just listen. The cost to Government of the support with bills has far outweighed any tax revenues.”
“The UK Minister will say to other countries, “We want you to leave your fossil fuels in the ground, because that is the agreement from COP28.” The country we are trying to persuade will say to us, “Hang on a minute. You’re saying we should leave our fossil fuels in the ground, but you’re planning to extract all yours.” What will we say, other than, “Yes, the Government are practising total hypocrisy, but please do as we say, not as we do.” That is the truth. The science is unequivocal.”
“In a moment. The Government argue that the Bill can somehow be justified on climate grounds, which demands a level of absurdity that should make even them deeply embarrassed. Let us get this straight. We signed a global agreement at COP28 for a transition away from fossil fuels in line with the science. That science is unequivocal: we must leave the majority of fossil fuels in the ground. But at home, their domestic policy is what they call “maxing out” the North sea. Let us get this clear: in the crucial coming two years, Ministers will travel around the world to try to turn that COP28 agreement into reality, but how will the conversation go?”
“I am very happy to talk about Ian Wood. We had a good roundtable with him in Aberdeen in November. I totally accept that it is for a Government of either party to show that there is a proper transition plan. I firmly believe that we can do it, but honestly, the hon. Gentleman knows that it is not the case that new licences will somehow guarantee a future for those North sea workers. How could he possibly say that four days’ worth of gas demand in 2050 will guarantee a future for those workers?”
“It is incredibly hard, but the idea that we will say, “Look, there is a climate crisis; this will not make any difference to our energy security; the Energy Secretary says that it will not cut bills; it is not the answer for the jobs of the future; but we will carry on doing it anyway”, is climate vandalism. I genuinely say that to the right hon. Gentleman. He shadowed me 15 years ago, and I know that he cares about these issues, along with the right hon. Member for Reading West. People who really care about these issues have wrestled with this question. We have listened to the experts and we have thought to ourselves, “What does the science tell us on the one hand, and what difference will this make on the other?” Fair-minded people have reached the conclusion that I have reached, as has Lord Stern and all the other authorities.”
“Eighty per cent. of what we get from UK waters is exported, not used here. We said clearly that we would continue with existing oil and gas fields. There must be a transition, and we cannot carry on regardless and max out the North sea. I know the right hon. Gentleman cares about the climate. It is important to listen to the respected authorities on climate. There must be a reason why the International Energy Agency, the Energy Transitions Commission, the Climate Change Committee, the former President of COP26 the right hon. Member for Reading West, and Lord Stern all say that the world is genuinely on a burning platform, and unless we address the issue of fossil fuels, we will head not to 1.5° but to 3° of warming. That is the truth.”
“I do not believe that it fulfils the kind of climate leadership that we pride ourselves on in this country. Here is another interesting fact for the House. UK Export Finance, I think with the guidance of the right hon. Member for Reading West, decided at COP26 that we would not finance oil and gas projects abroad. Now, there must be a reason why UKEF decided that. Presumably, the reason is that we want to make the transition away from fossil fuels. At the same time as UKEF decided not to do that, we will look like hypocrites if we do this by saying, “We’re just going to carry on maxing out at home.” I know there are a lot of other people who want to speak, Mr Deputy Speaker. We have a Bill—”
“I will tell the hon. Gentleman exactly what we would do. I am really grateful to him for intervening, but I am sorry he has lengthened my speech. We would establish a national wealth fund to invest in British jobs to give a future in steel and automotive, and to invest in our ports. We would set up GB Energy to generate wealth for our citizens. If it is good enough for countries abroad, why is it not good enough for us? We would insulate homes across the country. We would finally lift the disgraceful onshore wind ban that is adding £180 to every family’s bills. That is just the start. I do not want to detain the House for too long, but there is plenty more where that came from.”
“I will not give way. The truth is that there are two roads for Britain’s future: driving to clean energy by 2030 to cut bills and make us energy independent, and GB Energy to bring jobs in clean energy here at home and be a climate leader; or a Government who take the wrong path, cling to expensive and insecure fossil fuels, and make the British people pay the price, as they have for the past 14 years. The truth is that the Bill speaks volumes about a Government out of ideas and embarked on that second path. The Bill is one of the last desperate acts of a dying Government. I urge the House to support our reasoned amendment and vote against the Bill tonight.”
“In the past month, the former Prime Minister who legislated for net zero has condemned the Minister’s oil and gas policy. His colleague the former COP President has accused the Government of “not being serious” and the Government’s net zero tsar has resigned his seat in disgust. Why does the Minister think that that is?”
“It is not just us who oppose the Minister’s Bill, but those on his own side—he has lost an MP over it. I know he brought down the last Government over fracking; he is trying to do it again with his new Bill. That is the reason that people have lost confidence. They see the hottest year on record and a Government backsliding on net zero. Is it not the truth that the Conservatives who know and care most about climate change no longer support this Government?”
“Britain needs a Government who will show climate leadership again—not climate hypocrisy—to cut bills, deliver energy independence, grow our economy and protect future generations. In the next two years more than ever, the world needs climate leadership from Britain. Is the truth not that people at home and abroad have seen enough to know this Government cannot provide the leadership that the world so urgently needs?”
“Can he explain how he expects to persuade other Governments to keep their promises on finance when people suspect we will not keep ours? Fourthly and finally, when the Prime Minister spends his time at home describing net zero as a massive burden—which is what he does—how does he remotely expect to persuade others, particularly those in the developing world, that it is a great opportunity? The Prime Minister claimed that nobody at COP raised with him his dither and delay; I suspect that was because he was not there long enough to hear the truth. His U-turns have been incredibly damaging for our country. The positive outcomes at COP came despite this Government, not because of them.”
“Can the Minister explain how he expects to persuade other countries in the next two years that they must leave their fossil fuels in the ground when he wants to extract all of ours? Secondly, on targets for 2030 and beyond, the COP decision makes it clear that we need not just ambition but policies that will meet those targets. However, the Climate Change Committee says that we are way off track for our 2030 nationally determined contribution. Can the Minister explain how he expects to persuade other countries to have policies to meet their targets when anyone can see that we are miles off meeting ours? Thirdly, on finance, I welcome the contribution on loss and damage, but does the Minister recognise the lack of confidence that the Government will meet their promise to provide £11.6 billion of climate finance?”
“First, the COP decision says that we need to “transition away from fossil fuels” in line with the science. The science is unequivocal: for us to meet 1.5°, we must leave the vast majority of fossil fuels in the ground. He is right that many countries fear that some will seek to use loopholes in the COP agreement to avoid that reality. Our Government are doing precisely that: they say they want to drill every last drop in the North sea. The International Energy Agency, the Energy Transitions Commission, the Climate Change Committee and the former president of the COP, the right hon. Member for Reading West (Sir Alok Sharma), all say that that is incompatible with the science.”
“These will be the defining two years in this decisive decade, which will shape the lives of generations to come, so we need a Government in the UK who will stop congratulating themselves and using the UK’s record as an excuse for future inaction and instead lead at home in a way that is consistent with what we are demanding of others. The Minister complained about a lack of action on coal at the COP, but the Government are opening a new coalmine, watering down emissions targets, seeking to drill every last drop in the North sea and starting a culture war on net zero. That has sent a terrible message to business, investors and other Governments; one that was heard loud and clear by people at the COP. Let me ask the Minister four questions about the Government’s approach.”
“But, for all the advances made, the truth is that the world is still hurtling towards disaster, way off track for keeping 1.5° alive. While we need an over-40% reduction in emissions by 2030, we are currently on track for emissions not to fall but to rise, and a temperature rise of approaching 3°. Even after the agreement, that is the reality, so the question for the world in the run-up to COP29 in Azerbaijan and COP30 in Brazil is whether good words at COP28 are finally matched by actions equal to the scale of the emergency.”
“I thank the Minister for his statement and, indeed, for his regular commuting between Dubai and Westminster. Given that he brought the last Government down over fracking, I think he did not want a repeat performance, hence his return. I welcome some of the key outcomes from COP28, including in particular the commitments on renewables and, crucially, a transition away from fossil fuels. That shows that the COP process, however flawed and imperfect, can provide a forcing mechanism for action by Governments. I pay tribute to the civil servants in the Minister’s Department for their hard work. Indeed, by a remarkable coincidence, the breakthrough in the negotiations occurred in the 24 hours when the Minister came home and they were left in charge.”
“The world sorely needs leadership at COP28, but the verdict of our most globally respected climate expert, Lord Stern, earlier this month was damning. He said that the Government’s backsliding on climate action is a “deeply damaging mistake”—damaging for the UK, the world and the future of us all. Will the Secretary of State take this opportunity to place on record her response to Lord Stern?”
“The Secretary of State has no response to Lord Stern. The problem is that he sees a Government preaching one thing and doing another. Her negotiators at COP will argue to phase out fossil fuels, but she wants to drill every last drop at home and open new coalmines. She will tell developing countries that climate action is good for the economy, but the Government use climate delay to divide people here at home. Does she not realise that climate hypocrisy just trashes our reputation and undermines our leadership?”
“I had to correct the right hon. Lady’s predecessor on the point she has just repeated. Her mistake is quite basic, confusing electricity and energy. The Guido Fawkes blog—not an institution I often praise—pointed this out when her predecessor made this mistake. What I actually said—it comes from David Laws’ memoirs—was that it was pie in the sky to say we could have 40% of our energy provided by renewables. Currently, the figure is 18%. The Secy of State’s remark is inaccurate and wrong, and I would be grateful if she withdrew it.”
“I will read from David Laws’ memoirs. During the coalition talks, I said, “all this stuff about getting 40% of energy production”— energy production— “from renewables by 2020 is just pie in the sky.” Energy production from renewables is currently just 18%. I would be grateful if the right hon. Lady corrected the record.”
“I ask the Secretary of State for the third time. She claims that I said that it was “pie in the sky” that 40% of our electricity could come from renewables. I did not say that, and I have pointed out to her the exact quote, where I talk about 40% of energy coming from renewables. When one has said something inaccurate about another hon. Member in the House, the right thing to do is not to just keep reading the Conservative campaign headquarters lines, but to correct the record.”
“In a Government of fake news, it is good to have the occasional warrior for the truth.”
“Here we are, the last King’s Speech before the next general election and the Government release a two-clause political stunt of a Bill. They released it on Monday, during the worst cost of living crisis for generations, with energy bills still double what they were three years ago. Millions of people across our country—all of our constituents—are wondering what the Government are going to offer. On the day of the announcement, the Energy Secretary was asked a simple question by an interviewer: “Will it make a difference to energy bills?” For millions watching, surely the answer had to be yes, because, after all, that is what her job is all about. But this was her answer: “it wouldn’t necessarily bring energy bills down, that’s not what we are saying”. I commend the Energy Secretary for her outburst of candour.”
“This Gracious Speech takes place against a backdrop of three crises facing our country: the worst cost of living crisis in memory; the long-term failure of our economy to work for working people, with stagnant growth over a decade; and the climate and nature crisis we see all around us. The question at the heart of this debate is whether the Government’s legislative programme unveiled earlier this week in any way meets the scale of those challenges. The resounding answer is no. I am sure the Government think that they are being punished by the voters because the crises this country faces are so big, and that is probably true, but it is also because the politics they offer is so small. The King’s Speech demonstrates that in abundance and nowhere is that more true than on climate and energy.”
“So here they are, they really are going to the country and saying with a straight face, after all the pain and anguish that the British people have faced, “Here is our grand offer to you: the ‘we won’t cut your bills’ Bill.” That is the offer from the Secretary of State: “Vote Conservative, and we promise we won’t cut your energy bills.” No wonder the Back Benchers are despairing. The Government could have done so much. They could have lifted the onshore wind ban to cut energy bills, but they did not. They could have legislated for a proper programme of energy efficiency to cut bills, but they did not. [Interruption.] I will happily give way to the Energy Secretary’s Parliamentary Private Secretary if he would like to intervene.”
“I think that that is what we call wriggling. As I was saying, I commend the Energy Secretary on her outburst of candour. She is right—she is telling it like it is—and, by the way, she is in good company. Let me read this to the House: “MYTH Extracting more North Sea gas lowers prices. FACT UK production isn't large enough to…impact the global price of gas.” Who said that? Not somebody on this side of the House. [Interruption.] No, not a former Chancellor. It was the current chairman of the Conservative party, the right hon. Member for Chelsea and Fulham (Greg Hands), when he was the Energy Minister.”
“How much did we import from Russia at the beginning of the crisis? It was 5% —but we were the worst hit country in western Europe, not because of our imports from Russia but because of the way in which the price is set on the international market. I cannot put it any better than the National Infrastructure Commission, which said just three weeks ago: “Reliance on fossil fuels means exposure to geopolitical shocks that impact the price of these internationally traded commodities.” We have had North sea licensing for the last 40 years in this country. If more of it were the answer, the British people would not have faced the pain that they have. According to Energy UK, new oil and gas licences “will not lower customer bills or significantly improve the UK’s energy security.””
“Never mind then. Keep quiet. The Government could have legislated to change planning rules to speed up renewables and cut energy bills, but they did not. They do not seem to realise how tin-eared, how out of touch, how absurd they look. So how did we end up with this Bill? The hon. Member for Bosworth (Dr Evans), who was not allowed to intervene, thinks it is about energy security, and that is what the Secretary of State said. The truth is, however, that she is trying to peddle an illusion, and I suspect that she knows it. Fossil fuels, with their markets controlled by petro-states and dictators and their price set internationally, cannot give us energy security. That is the obvious basic lesson of the past two years. Whether gas is produced in the North sea or imported from abroad, we pay the same price.”
“Whether they agree with it or not, that is what is happening.”
“One paper I read on Monday reported that the Prime Minister wants to “weaponise climate change” as a wedge issue. Where the British people see an energy crisis forcing up their bills, the Government see a wedge issue. Where the British people ask how they can have liveable towns and cities with good transport, the Government see a wedge issue. Where the British people worry about the effect of the climate crisis on their kids and grandkids, the Government see a wedge issue. The point is that the Government cannot really deny it, because they know this is what they are saying every day. “We think there is a big opportunity for the Conservative party to try to create division on climate change.” That is why the Prime Minister uses words like “eco-zealots.” It is all very transparent. They are locked in the boot of a strategy.”
“It is the last desperate throw of the dice by what we might call the No. 10 galaxy brains, to use climate change as what they call a “wedge issue.” They say this to the newspapers all the time. Series 1 of this new strategy was aired in September, when the party of Churchill and Thatcher became the peddlers of wacky conspiracy theories they found on the internet: abolishing the mythical seven bins; ending the imaginary threat of compulsory car sharing; saying no to invented conspiracy theories on 15-minute cities; and fighting the fictional meat tax. And now we have a sequel. No longer a few throw-away conspiracy theories, this is now the central strategy of their legislative programme. Members should not take my word for it. It is what the Prime Minister’s advisers brief to the papers day after day.”
“The lesson of this crisis is one that the Government should have learnt, and one that other countries around the world have learnt: the only way to get energy security is to sprint for clean power. That is why the Government’s onshore wind ban is such a disaster. That is why their offshore wind auction is such a disaster. That is why their energy efficiency failures are such a disaster. This Bill neither protects us on price nor gives us energy security. Here is the thing, the Bill is not motivated by millions of people lying awake at night, worrying about the cost of living crisis; it is motivated by a Prime Minister lying awake at night, worrying about the Conservative party crisis. The interesting thing is that this Bill was planned well before the right hon. Member for East Surrey (Claire Coutinho) became Energy Secretary.”
“I think the Climate Change Committee is actually saying that its most ambitious scenario, which we should be aiming for, is for us to cut the use of gas by 90%. We are going to carry on using North sea oil and gas, but the question for the hon. Gentleman, and for the whole House, is this: do we choose, for the future, to carry on drilling every last drop? That is the Government’s policy, in contravention of all the scientific advice, which is that we will end up in a 3° world—needing billions of pounds of taxpayer subsidy to bring about that investment through persuasion, and diverting investment from the private sector. Personally, I do not think that that is the right choice.”
“[Laughter.] He wrote an autobiography about his time in Mrs Thatcher’s Cabinet, and some here will know that its title was “Dancing with Dogma”. That is what we are seeing here, because the Government are in favour of public ownership of our energy assets, so long as it is by foreign states. That does not sound very Conservative to me. GB Energy would be investing in the industries of the future, partnering local communities to create jobs and wealth for Britain. A Labour King’s Speech would have contained an energy independence Act to make all of this possible: clean power by 2030 to cut bills; a proper energy efficiency plan; a national wealth fund; and GB Energy. That is an energy Bill equal to the scale of the crises we face.”
“I have to say to the House that the Government may not realise it, but we already have public ownership of energy in Britain, with EDF, Vattenfall, Ørsted and Statkraft. They are all companies wholly or partly owned by states—foreign states. They own our industry. In fact, nearly half of our offshore wind industry is owned by foreign states—by state-owned foreign companies. So the Government take the extraordinary position that it is okay for state-run companies to invest in Britain, so long as they are not British state-owned companies; let French, Swedish, Danish and Norwegian citizens get the wealth from our energy industry, just not British citizens. That is the Government’s position. This makes me a nerd, but let me say that the late Ian Gilmour wrote an autobiography —[Interruption.] It is not that that makes me a nerd.”
“They say it is “dangerous”, “distortive” and “protectionist”. This is not some accident; they do believe that this is a role Government. I am afraid to say that that is a recipe for Britain losing the global race. What would Labour do differently? We would have a national wealth fund, not with one-off, ad-hoc investments, but a proper plan. We would be investing in ports, our steel industry and electric battery factories. We would also have a new publicly owned energy company, GB Energy, which I am glad the Secretary of State mentioned. It would be partnering the private sector in the industries of the future. The Government object to GB Energy, because they say that we do not need public ownership of energy in Britain.”