Sarah Olney

I thank the Minister for advance sight of the statement. I welcome the Government’s announcement that they are stepping in to offer support and protect jobs in this vital industry. We have a duty to safeguard our national security and economic prosperity, and to ensure a fair transition to clean energy. This statement is a step in that direction. We have long been champions of British industry. We are proud of the industrial policies that we introduced in government, and we must never return to the neglect we saw under the Conservatives, who scrapped our industrial strategy. Having said that, we need to see a far more cohesive plan from this Government to support British business, including our chemicals sector. High energy costs are a fundamental challenge. The industrial competitiveness scheme will support the 7,000 most energy-intensive firms, but it will not launch until April 2027. Will the Government confirm whether the Grangemouth plant will be included in the scheme? Do Ministers acknowledge that if the scheme had been in place earlier, the situation might have been avoided? Does the Minister agree that we need a long-term plan to slash energy costs for households and businesses alike by seriously investing in renewables and decoupling electricity from gas prices? Finally, I must press the Minister on another huge added cost for which the Government are responsible, which is of course the national insurance increase. Will he tell the House what is the tax hit imposed on the Grangemouth plant through the national insurance hike since last year’s Budget? Is it greater than the £50 million Government grant handed to Ineos today?