Clean Energy: Private Sector Investment

Part of Energy Security and Net Zero – in the House of Commons at on 24 March 2026.

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Photo of Chris McDonald Chris McDonald Parliamentary Under Secretary of State (Department for Energy Security and Net Zero), Parliamentary Under Secretary of State (Department for Business and Trade)

My hon. Friend is right that the allocation round was incredibly successful. Of course, the Conservatives wanted to cancel it, given their Opposition to clean industry jobs across the UK. In the north-east, where my hon. Friend is from, we are forecasting an increase of 20,000 jobs. I know that the Smulders yard in her Constituency will seek to benefit from that because, as the Chancellor of the exchequer said, it matters to this Government where things are made. We want those supply chain jobs here in the UK—jobs the Reform party would take away from constituents like hers and mine, with its anti-net zero ideology.

Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.

opposition

The Opposition are the political parties in the House of Commons other than the largest or Government party. They are called the Opposition because they sit on the benches opposite the Government in the House of Commons Chamber. The largest of the Opposition parties is known as Her Majesty's Opposition. The role of the Official Opposition is to question and scrutinise the work of Government. The Opposition often votes against the Government. In a sense the Official Opposition is the "Government in waiting".

Conservatives

The Conservatives are a centre-right political party in the UK, founded in the 1830s. They are also known as the Tory party.

With a lower-case ‘c’, ‘conservative’ is an adjective which implies a dislike of change, and a preference for traditional values.

constituency

In a general election, each Constituency chooses an MP to represent them. MPs have a responsibility to represnt the views of the Constituency in the House of Commons. There are 650 Constituencies, and thus 650 MPs. A citizen of a Constituency is known as a Constituent