23 September 2021
MP seeks Ministerial meeting to discuss renewable energy subsidies

Following the Government statement on gas prices and energy suppliers, Andrew Bridgen seeks a Ministerial meeting to discuss renewable energy producers’ use of offshore special purpose vehicle companies to receive climate change levy subsidies.

Andrew Bridgen (North West Leicestershire) (Con)

I draw the House’s attention to my entry in the Register of Members’ Financial Interests. I own shares in companies that invest in renewable energy. As the House will know, consumer energy bills are enhanced by climate change levy charges, which are used to support renewable energy producers. Is my right hon. Friend aware, however, that a large number of those renewable energy producers use special purpose vehicle companies to receive those subsidies, and that many of those SPVs are based offshore for tax purposes? Will he meet me to discuss how the Government are going to close that very clear tax loophole?

Kwasi Kwarteng (The Secretary of State for Business, Energy and Industrial Strategy)

As my hon. Friend knows, I am always prepared to meet him at any time to discuss any matter he chooses to discuss with me.