Here are the climate-related sections of speeches by MPs during the Commons debate Finance (No. 2) Bill (Fifth sitting).
10:34 Dan Tomlinson (Labour)
The clauses are central to mitigating carbon leakage, and supporting the UK’s path to net zero.
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10:36 James Wild (Conservative)
Some industry groups, as recently reported in the Financial Times , warn that they think the Government’s current design has flaws and could accelerate de-industrialisation rather than prevent it. A major concern is that the Government plan to apply a single sector-wide rate, based on average emissions, instead of differentiating by product type and country of origin, as I understand the EU scheme does. UK Steel, the Mineral Products Association and the Chemical Industries Association have warned that, without changes, the mechanism will leave domestic producers worse off than their overseas competitors and undermine planned investment and decarbonisation. Has the Minister modelled the impact of using a single sector-wide rate rather than a more granular approach, as well as the impact on investment, jobs and emissions in each of the covered industries?
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James Wild (Conservative)
Clause 151 defines what we mean by “emissions” for CBAM purposes and firmly anchors the tax in the existing climate policy framework by adopting the definition in the Climate Change Act 2008. Greenhouse gas emissions will be measured in tonnes of carbon dioxide equivalent, which is sensible.
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