Green Infrastructure Investment
1/24. What assessment she has made of the potential implications for her fiscal policies of recent trends in levels of investment in green infrastructure.
Too many parts of the country and too many families have felt the devastating effects of flooding in recent months, not least in South Wales and in the hon. Member’s constituency. The Government have committed £2.4 billion over the next two years to increase community flood resilience. Everyone in this House recognises that flooding is a challenge that will be with us for years to come, and we will set out further plans at the spending review.
Right—oh, go on, Bill Esterson.
The vote of confidence by PwC, the upgrading of the growth forecast by the International Monetary Fund and the £63 billion announced at the growth summit are all indications of this Government’s successful plans. Does the Minister agree that they are added to by the clear direction on green investment in energy projects and that that will deliver success for our economy, as well as contributing to our climate targets?
We take very seriously the need to protect communities from flooding and to deliver on our commitments on climate in the years ahead. It is important that we consider both principles and that is what the Department for Environment, Food and Rural Affairs and the Department for Energy Security and Net Zero are doing.
Let’s go back to Helen Maguire.
Thank you, Mr Speaker. Recent flooding in Leatherhead left footpaths near essential services such as train stations overflooding with sewage. In Leatherhead, there are no alternative options to divert water. Given the importance of long-term flood preparations, will the Chancellor commit to securing funding for flood defences beyond 2025-26?
The hon. Member will know that specific flood defence schemes will be considered in the normal way. When it comes to funding beyond 2025-26, those will be decisions on overall levels of funding that are taken in the spending review later this year.
Order. Let us move to Dr Allison Gardner.
rose—
No, we have Gareth Davies up next. We are in complete chaos—[Laughter.] We have the wrong names coming in. What has confused everybody is the fact that Question 3 was withdrawn. Everybody is a question behind. Right, I call the shadow Minister next.
Never in doubt, Mr Speaker. May I welcome the Parliamentary Secretary to the Treasury, the hon. Member for Swansea West (Torsten Bell), to his place? The removal of investment allowances from our domestic oil and gas industry is strangling domestic supplies at a time when our storage levels are depleted. Labour’s ideologically driven, unachievable obsession with decarbonising the grid by 2030 might be good news for Chinese renewables manufacturers, but it is bad news for British households. Is it not the case that the only growth that we will see from Labour’s energy policy is in the amount that people pay for their energy bills, or can the Minister stand up now and commit—just as Labour did during the general election campaign—to cutting energy bills by £300?
Get real!
I think that remark was directed at the hon. Member in a previous life. We have committed to 100% first year allowances and to maintaining that going forward, but unless we deliver secure energy, generated at home through cheap renewables, there is no energy security to be had in the years ahead.