Kerry McCarthy Labour MP for Bristol East
This week in Parliament, I asked the Minister for Scotland what his department is doing to ensure that investment in green energy in Scotland doesn’t fall off as a result of President Biden’s Inflation Reduction Act.
Scotland is blessed with the natural resources to generate huge amounts of clean energy through wind, wave and tidal power. The country already generates almost all of its electricity through renewable resources, but has the potential to do much more, especially if obstacles to growth like a lack of grid connections, planning delays and this Government’s ludicrous opposition to onshore wind are removed.
Biden has introduced a $369 billion package to support green investment, and there are already signs it’s causing capital flight from the UK. Even the Chancellor has acknowledged that the Inflation Reduction Act poses a “very real threat” to the British economy, yet the Minister’s response indicated a complete lack of concern; in fact, I’m not sure he knew what I was talking about!
A Labour-led Scotland and a Labour-led UK would implement our Green Prosperity Plan, to support green investment and our plans for clean power by 2030. But we need a Government response to the Inflation Reduction Act now, before more jobs and investment are lost.
Watch clip here.