Henry Tufnell

We live in uncertain times, and as a nation we face many challenges ahead. For one, there is Russia’s invasion of Ukraine. The impact on our domestic energy prices has shown the extent of our reliance on the international oil and gas markets. Since 2022, gas prices for households across the country have spiked, and the cost of living continues to bite. Putin’s boot is on our throat. Another challenge is the result of rapid deindustrialisation across the UK since the 1980s, and too much economic focus on London and south-east England. We have seen massive job losses at Port Talbot; we face an uncertain future at Grangemouth; and we still bear the scars of the loss of the mining industry. Regional inequality is stark, and in my constituency of Mid and South Pembrokeshire, the rate of child poverty is steadily increasing. And of course there is our climate crisis: wildfires in California, torrential rain in Spain, and extreme heatwaves and longer droughts. Even walking through the village of Angle in Pembrokeshire with members of the local community council, it is all too easy to see the increase in frequency of flooding, not to mention its damaging impact on residents and local farmers. Prior to the general election of 4 July, my right hon. Friend the Chancellor set out her economic vision of securonomics: we would make, sell and buy more in Britain, and so deliver energy security and create good, well-paid jobs while tackling the climate crisis. My Labour colleagues and I stood for election on that manifesto, and it is time to deliver. At a time when the challenges are so great and the need for leadership is so acute, it is vital that the Crown Estate has greater scope to rise to those challenges and do its part for the revitalisation of our great nation. The provision in clause 3 that commissioners at the Crown Estate “must keep under review the impact of their activities on the achievement of sustainable development in the United Kingdom” is therefore to be welcomed. That amendment was hard fought for by the noble Lords in the other place, and I commend them for it. However, it is our duty in this House to provide clarity about the meaning and scope of “sustainable development”, and about the mechanism for enforcing that provision. Maintaining transparency and accountability is critical for an organisation as big and influential as the Crown Estate. Allowing the estate to define “sustainable development” and report annually is a move straight out of the environmental, social and governance playbook. Given the financial firepower that this House is granting the Crown Estate, allowing it to effectively self-regulate on an issue of national importance is a dereliction of our democratic duty. Under amendment 5, the commissioners must have regard to net zero, regional economic growth and energy security. It would not impede the independence of the Crown Estate, but would provide unambiguous purpose and direction on an otherwise undefined and unexplained term. It should therefore be welcomed.