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Barry writes a letter to the Financial Times, describing how the UK Government's incoherent energy policy is undermining investor confidence. This letter was originally published on 4 April

Sir, Your report “Time running out to build fossil fuel power stations” (March 31) could not be more timely. Tackling climate change requires smart infrastructure investment. But to achieve that investment at scale requires a clear and stable regulatory framework that this government has failed to provide.

Last year the UK lost its top 10 listing as one of the best countries for investor confidence in clean energy projects and the independent Committee on Climate Change warned that the government’s “stop-start investment profile” was undermining investor confidence and increasing the cost of low-carbon generation.

By continuing to attack low carbon energy on the grounds of adding costs to bill-payers, the government is undermining its own capacity to deliver its stated objectives and is actually increasing energy costs.

Just last month the energy and climate change select committee reported that the government’s “lack of a long-term vision” has raised the cost of investing in UK energy by £3.14bn a year. The government must wake up: by increasing the risk premium for investors, consumers end up paying more.

The private sector is already way ahead. Recent research has found that private sector spending on high carbon infrastructure is set to more than halve by 2020.

It makes no sense therefore that the government’s updated national infrastructure pipeline is now projecting a staggering 96 per cent fall in renewables investment between 2017 and 2020 when the National Infrastructure Commission is advocating that the UK should save up to £8bn a year by 2030, by embracing a “smart power revolution”. This is incoherence right at the heart of our energy and industrial policy. It must be addressed.

Barry Gardiner MP

Labour, Brent North

Shadow Energy and Climate Change minister; former Environment minister

 

UK's incoherent energy policy is undermining investor confidence

Barry writes a letter to the Financial Times, describing how the UK Government's incoherent energy policy is undermining investor confidence. This letter was originally published on 4 April. 

Barry Gardiner MP has now received confirmation from the Minister of State for Housing and Planning, Mr Brandon Lewis MP, that the Secretary of State for Communities & Local Government is actively considering calling-in the planning application for the expansion of Byron Court Primary School following a request from Mr Gardiner earlier this month. 

Mr Gardiner said:

“I pay tribute to the local residents and parents who contested the proposed expansion of this school from the outset. The proposals will disrupt the education of current pupils whilst wreaking long term havoc upon the local area at drop-off and pick-up times. Residents are already struggling to cope with the existing traffic volumes and simply cannot take any more. Whilst I absolutely appreciate the difficulty that Brent Council has in meeting its statutory duty to find school places for all children in the Borough following the Government’s education reforms, it is staggering that Byron Court is considered an appropriate location for expansion. The traffic impact assessments and the assumptions used by the council to push this application through simply do not stand up and I am delighted that the secretary of state is now looking to see whether he can intervene.”

Barry receives confirmation that Secretary of State considering calling-in Byron Court Primary School planning decision

Barry Gardiner MP has now received confirmation from the Minister of State for Housing and Planning, Mr Brandon Lewis MP, that the Secretary of State for Communities & Local Government is actively...

Barry in the chamber

At last week's oral questions on Energy and Climate Change in the House of Commons, Barry pressed the government to account for how its policy decisions had led to an undermining of investor confidence, as detailed in the Select Committee on Energy & Climate Change's latest report

Barry presses Government on investor confidence slump in energy sector

At last week's oral questions on Energy and Climate Change in the House of Commons, Barry pressed the government to account for how its policy decisions had led to an...


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