Tom Hayes

Tom Hayes

Labour — Bournemouth East

Speaking in the House of Commons on 5 March 2026

Debate

UK-EU Emission Trading Systems

Contribution

The EU’s carbon budget amendment mechanism came into being on 1 January. It affects the IFA2 interconnector between Britain and France, which I visited recently. CBAM is a trade block for UK electricity exports to the EU, imposing costs on exporters of £2.2 billion, and it robs the Treasury of up to £8 billion at a time when we need that money to invest in our public services and to have a stronger buffer against external shocks. Does the Minister agree that we should not be shooting ourselves in the foot and throwing away money, as the Conservatives would do, and that we should instead be boosting trade, boosting energy security, boosting our national security and seeking an exemption from CBAM?

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