Capital Gains Tax (Rates) - 28th June 2010

Mr Sam Gyimah (East Surrey) (Con)

Peter’s radical stance on the environment was instrumental in shifting attitudes to green issues, and he introduced as a private Member’s Bill the Green Energy (Definition and Promotion) Act 2009. I also respect him for sticking to his guns on the Iraq war when it seemed unpopular to do so. From my dealings with him, I can say without equivocation that he is a good man.

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Lorely Burt

The hon. Member for Hartlepool said that this was not a green Budget, but there are good incentives for low-carbon investment through the reform of the climate change levy, the proposals on which will come in the autumn. We also have the green investment bank and the green deal for households, which will enable households to make improvements that will pay for themselves over time.

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Sarah Newton (Truro and Falmouth) (Con)

I have often heard colleagues in this House refer to Cornwall as part of the Celtic fringe; no doubt that is intended in a humorous way. While I am very proud of the Celtic culture, sports and traditions of Cornwall, there is absolutely nothing “fringe” about Cornwall or its people. Cornwall throughout the ages has been, and will continue to be, at the cutting edge of important national developments, as well as being at the centre of key moments of our history. The industrial revolution started in Cornwall, and Cornwall is leading the new industrial revolution—that of delivering the renewable and sustainable energy that our future economic security and growth will depend upon. Cornwall’s pioneering and inventive people and enterprises are ready to rise to the challenge of delivering a low-carbon economy and secure energy supplies. They need a Government who understand how to create the right market conditions for enterprise to succeed. I believe that this coalition Government have the determination to do this, and so to unlock potential in Cornwall.

In the hinterlands of the constituency are the ruins of many of the mines for which Cornwall is famous. As a descendant of Cornish miners, I am particularly pleased to see renewable energy enterprises developing in the ruins of the old tin and copper mines. Cornwall has the hottest rocks in the UK and is a natural location for geothermal energy production. That, combined with our rich tradition of engineering and inventiveness, provides an ideal environment and ideal skills to develop that sustainable form of energy. Geothermal Engineering Ltd has submitted a popularly backed planning application to Cornwall council and if it is successful, we will see the first commercial geothermal energy plant in the UK, which will produce 10 MW of renewable energy to be fed into the national grid.

Nearby, at the former mine of Mount Wellington, is Kensa Engineering, an award-winning manufacturer of ground heat pumps that works with social housing providers across the country to deliver low-carbon energy and at the same time lift people out of fuel poverty. I am delighted that the coalition Government have stated their support for renewable energy incentives. I believe that the Government’s priority, as set out in the Budget, to enable more business finance and financial support for the low-carbon economy, will help support excellent low-carbon companies and energy providers such as those in my constituency. The Government’s emphasis on the need for economic growth to come from the private sector will also, I believe, create a better environment for the many businesses that already contribute so much to the local economy, particularly at Falmouth port.

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Liam Byrne (Labour)

The hon. Member for Thurrock (Jackie Doyle-Price) spoke about her roots and how they have shaped her political outlook. She left us very much wanting to hear more. The hon. Member for Pudsey (Stuart Andrew) told us about some of Pudsey’s famous sons—if that is the word to describe both Sooty and Sweep; I have never been quite sure—and I now know the home of Britain’s best fish and chips. The hon. Member for Truro and Falmouth (Sarah Newton) was passionate and informed about green energy. The House is in need of those qualities on that subject, and we look forward to hearing more from her.

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