Contributions
4,729 recent contributions in Hansard
HANSARDOil and Gas Windfall TaxMy noble friend makes an important point. Taxation levels are obviously a matter for the Chancellor and the Treasury. However, there are a number of concerning stories from…19 Jul 2023HANSARDOil and Gas Windfall TaxMy Lords, what the noble Lord refers to as a “kickback” is actually an investment allowance. If I am right, the same noble Lord was asking me about reducing flaring and about…19 Jul 2023HANSARDOil and Gas Windfall TaxI do agree with the noble Lord. Nuclear reactors, whether it be Sizewell or Hinkley, and small modular reactors will play an important part in the net-zero transition. Of course,…19 Jul 2023HANSARDOil and Gas Windfall TaxNo, I would not agree with the noble Lord, I am afraid; he is absolutely dead wrong. Even with any new licences that might be issued in the UK, UK production will continue to…19 Jul 2023HANSARDOil and Gas Windfall TaxI do not know where the noble Baroness gets her figures. I responded in my previous answer to the question about investment allowances—policies that the Opposition have called…19 Jul 2023HANSARDOil and Gas Windfall TaxThe noble Baroness is essentially right: of course we need to transition to renewable energy sources, and that is exactly what we are doing. The North Sea transition deal between…19 Jul 2023HANSARDOil and Gas Windfall TaxI thank my noble friend for the kind invitation to respond to that. He will understand that I cannot comment on licensing decisions.19 Jul 2023HANSARDOil and Gas Windfall TaxMy Lords, the Government introduced the energy profits levy to respond to exceptionally high prices that mean that oil and gas companies are benefiting from extraordinary profits.…19 Jul 2023HANSARDDecarbonisationI understand the point that my noble friend is making. A happy by-product for the Treasury of the emissions trading scheme is the considerable revenue that it generates, and I am…13 Jul 2023HANSARDDecarbonisationMy Lords, I appreciate the desire of the Liberal Democrats to get us into the EU regulatory orbit as quickly as possible. As with many things, there are arguments for and against…13 Jul 2023HANSARDDecarbonisationMy noble friend makes an important point. On all these policies, we have to make sure that we get the balance right between fulfilling our legally binding commitments and making…13 Jul 2023HANSARDDecarbonisationThe noble Baroness is asking me to comment on tax policies and hypothecation of taxes, which are matters in the purview of the Chancellor of the Exchequer. I shall make sure her…13 Jul 2023HANSARDDecarbonisationI totally understand the point that the noble Lord is making. He highlights the dilemma of carbon-reduction policies in these areas, where we impose carbon taxes and emissions…13 Jul 2023HANSARDDecarbonisationMy Lords, I am slightly disappointed by the tone of the question. We are already showing decisive leadership: we are one of the only countries in the world to already have green…13 Jul 2023HANSARDDecarbonisationMy Lords, the Government are currently exploring options for utilising public procurement to create demand for green industrial products. We have sought views via consultation to…13 Jul 2023HANSARDDecarbonisationI do not want to put words into my noble friend’s mouth, but I do not think that he was attempting to argue that we should not invest in green products and services. He was merely…13 Jul 2023HANSARDDecarbonisationThe consultation only closed at the end of last month, so the noble Baroness will need to give us a bit of time to analyse the hundreds of responses that we received. It is a…13 Jul 2023HANSARDDecarbonisationMy noble friend has been steadfast for many years in his support for free trade—a cause that I manifestly agree with. But it is a complicated issue. It looks as though the EU and…13 Jul 2023HANSARDCement Industry: Carbon DioxideMy Lords, the Government are committed to working with the cement sector to explore decarbonisation options and are pursuing several strategic funding and policy initiatives. This…12 Jul 2023HANSARDCement Industry: Carbon DioxideThat is one of technologies we are looking at. We also gave £3.2 million to the Mineral Products Association to develop a low-carbon fuel mix for cement. It held a trial at…12 Jul 2023