Largest gas plant, and here in The north west, new energy from waste facility, and eth, The Worlds cleanest, largest blue Hydrogen Plant in The World. Just two miles from here, which will power The furnaces in this glass factory. This is indeed, as keir promised, The future arriving. Experts from The international Energy Agency to The climate Change Committee are clear. Deploying Carbon Capture at scale is critical to meeting our climate commitments. And for britain, The North Sea means we have The chance to lead, The capacity to store 200 years were carbon emissions. Lets be honest about this. Too often in The past, britain has blown its chance of industrial success. We say today, not this time. This government is committed to use every live to win for britain, this government is committed to a proper industrial policy, and this government has a chancellor who understands The importance of public and private investment to build The future written deserves. Britain deserves. With that, it is my great pleasure to introduce my friend, our chancellor, rachel reeves. ~ friend, our chancellor, rachel reeves. ~ ,. friend, our chancellor, rachel reeves. ~ ,. friend, our chancellor, rachel reeves. ~ ,.. Reeves. Thank you very much, ed, and thank reeves. Thank you very much, ed, and thank you reeves. Thank you very much, ed, and thank you deshawn i reeves. Thank you very much, l ed, and thank you deshawn and all of ed, and thank you deshawn and All Of Us ed, and thank you deshawn and All Of Us for having us Here Today All Of Us for having us Here Today it All Of Us for having us Here Today. It is great to be Here Today. It is great to be here to announce The {21. 7 billion fraud to announce The {21. 7 billion fraud to to announce The {21. 7 billion fraud to ground breaking projects in teesside and in merseyside. They will be The beginning of a new chapter in our industrial history, a chapter our industrial history, a chapter we are making togeTher. The clusters will secure our leadership in clean technology, Ust Leadership in clean technology, just as leadership in clean technology, just as we went on powering The last industrial revolution. Carbon last industrial revolution. Carbon Capture Technology is not just Carbon Capture technology is not just about cleaning up our industry not just about cleaning up our Industry And Energy sector, it is a massive opportunity to attract is a massive opportunity to attract investment and create thousands of skilled jobs, paying thousands of skilled jobs, paying good wages The basis for a paying good wages The basis for a new paying good wages The basis for a new era of prosperity in fora new era of prosperity in our for a new era of prosperity in our industrial heartlands. It shows our industrial heartlands. It shows that this Governments Growth shows that this Governments Growth mission will reach every corner Growth Mission will reach every corner of Growth Mission will reach every corner of great britain. Todays corner of great britain. Todays announcement is about delivering Todays Announcement is about delivering on The goal people here delivering on The goal people here in delivering on The goal people here in merseyside, but also in teessida here in merseyside, but also in teesside. The high Net Cluster will not teesside. The high Net Cluster will not only generate 2000 jobs will not only generate 2000 Jobs In will not only generate 2000 Jobs In future facing industries, but will also drive broader industries, but will also drive broader economic growth across The broader economic growth across Lhe Region broader economic growth across The region for all of you, for your The region for all of you, for your children and grandchildren. As we embrace change. Grandchildren. As we embrace change, we are notjust. Old industries. Change, we are notjust. Old industries, but we are writing a new industries, but we are writing a new chapter and doing it togeTher. We have lunch Great British togeTher. We have lunch Great British energy, a new Public Energy british energy, a new public Energy Company which invests in clean Energy Company which invests in clean energy, and The creation of a clean energy, and The creation of a new clean energy, and The creation of a new national Wealth Fund which of a new national Wealth Fund which will unlock more private investment across our economy. We are investment across our economy. We are removing The barriers that we are removing The barriers that stop we are removing The barriers that Stop Investment so that we can get that Stop Investment so that we can get britain building again, and our can get britain building again, and ourfirst can get britain building again, and our first international Investment Summit will take place Investment Summit will take place in Investment Summit will take place injust ten Investment Summit will take place in just ten days Investment Summit will take place injust ten days time to bring place injust ten days time to bring new place injust ten days time to bring new investment, and more opportunities to The uk. That is The opportunities to The uk. That is The change this government is The change this government is offering change that will shape is offering change that will shape britains industrial future, shape britains industrial future, change that The Prime Minister future, change that The Prime Minister is bringing to our communities here in Merseyside And Right communities here in Merseyside And Right across The country. Thank and right across The country. Thank you and right across The country. Thank you very much. Applause thank you, i had. Thank you, rachel. Thank you to all of you for coming and being here. I think you may be thought you were going to see kylie, but you have got keir instead, im afraid. I dont see a good thank you to you, because we have come here to get a proper sense of The work you do. We have come here to hear about how successful you are. This is an incredible place to work. The amount of work that you do from here is phenomenal. This company has grown and grown, and that is down to you and The skills that you bring to what you do day in, day out. For me, There is no substitute for coming to places where you and oThers work, and getting a sense for myself of what you do, how skilled it is, of how important it is to our country. Ive said many times, my dad was a toolmaker, he worked in a factory, but that matters to me. Until i went off to college, i didnt even know any working environment oTher than a factory. It is really, really important for me to be Here Today, and to say thank you for being here, thank you for listening to us, but thank you hugely for what you do, because it is really important. Thank you for hosting us Here Today. Really good to see representatives from bp here, and oThers, who have all worked so hard on this moment of partnership, and that is what it is. This investment in our future, we make it togeTher. That is back to you. In oTher words, this investment, yes it is a technical question facing The future, yes it is about how we ensure that we get what we need as we go forward, The investment into our country, but above all else, it is about making sure that for thousands of people like you with skilled, good, secured jobs that give you The dignity and The pride of The work that you do. Yes, There is a lot of technicality in all of this. Yes, There are hugely important numbers flying about, but in The End, what matters to me and to us as a government is The difference it makes to your lives and The lives of oTher people were doing jobs like you, notjust now and next year, but into The future, and making sure that we have you and i am in our minds i, when we make our decisions. Politicians. That is why this is such a hugely exciting moment in The future of british industry. As ed has already pointed out, it is a Landmark Week in our national story, because this week We Saw The End of call. The end of call, The pub that built this country for many years. Now, as we see The End of coal, we see The rise of Carbon Capture and storage. The largest programme in this new and vital industry anywhere in The World. Thats incredible. Right here in liverpool bay. And on The east coast, in teesside. 4000 skilled jobs for working people. Job similar to The jobs you are doing, skills, and because we are stabilising our economy, because we do that in partnership with The private sector, and because we are fixing The foundations and providing a long term industrial strategy, a new direction, certainty and stability. And The promise of so much more, because tied up in this, in The future, is 50,000 jobs across The country in The wider supply chain. That is what is at stake with this Investment Today billions of long term private investment unlocked, investment in hydrogen, The first industrial Scale Plant in The country, and for our energy intensive industries like Glass Making here or Cement Or Steel or ceramics, you are familiar with These, The security that The future belongs to Them. That The necessary mission of decarbonisation does not mean deindustrialisation. This, if you like, is The politics of National Renewal in action. We have been talking about National Renewal, what does that look like . How do we face The future . Before i was a politician, i was a lawyer, and one of The first cases i did was a challenge to The Then tory Governments Programme to close The coalmines, and that meant that i worked with families and communities who are going to lose TheirJobs In are going to lose TheirJobs In a really important industry for Them. I Therefore know what this country lost when we ended coalin this country lost when we ended coal in that way, because we lost jobs, coal in that way, because we lostjobs, communities, we lost our way of life. I think we must dignity lost dignity, and we also lost identity, because we are The first industrial nation. That is who we are as a country, it is our story. A source of pride that this country, our country, communities like here in runcorn change The World, and what is made here matters. You can take that away from people without a plan to replace it, and it is like losing a part of yourself, a missing lem, an open wound, The heart ripped out of The nation. I know what we lost when we must call all those years ago, but i also know how we can write her story in The ink of The future. When weve lost coal. That pride, unlocked for new times. Now, you dont do that with a shrug of The soldiers or by telling an onrushing tied to stop. We saw plenty of that in birmingham this week. Nor do we do it with false hope, sentiment, by treating industrial communities as some sort of charity case. RaTher than a source of Growth And Dynamism to be unlocked. What you need is a serious, unsentimental plan. A hard headed assessment of where this country can win. What is a comparative advantage . And Then, The determination to roll up Then, The determination to roll up your sleeves and invest in The future, and that is what todayis The future, and that is what today is all about. With our partners in business. As both Ed And Rachel said, Carbon Capture is a race we can win. We have a financial know how In London and edinburgh, World Leaders in green finance. We have The geology, The Uk Continental Shelf holds a third of exploitable Carbon Storage Space in europe. Just think about that, our geology, a third of everything we have in europe. Huge potentialfor our country for Thejobs of europe. Huge potentialfor our country for The jobs of The future. And we have The heritage. In this room, and The skills and expertise that have moved and exploited gas at sea for decades. Im absently confident, mark my words, we can do this and The timing is right. This is a technology that has now arrived, but is ready with this investment to scale. This isjust The ready with this investment to scale. This is just The start. I have always believed that clean energy is a golden opportunity for our country, a chance to bring Security And Hope to working people. Relight The fires of renewal in those areas that got hit so hard by deindustrialisation. But im not alone in that. This is important, because politicians around The World are saying The same thing in norThern france, in eastern germany, in The Rust Belt of america. Their aspirations are The same as ours. This is a race, a global race to get ahead, and im really pleased that we are putting ourselves in The Position Notjust to be in The global race but to win it, and that will be measured in thousands ofjobs that will be measured in thousands of jobs for that will be measured in thousands ofjobs for literally thousands of jobs for literally Decades Thousands Ofjobs for literally decades to come. One of The problems we have got is that we have been too slow so far. The previous government stopped and started, started and stopped, and notjust on clean energy, across The piece. Life sciences. Inaudible They never once put industrial strategy on a stable long term footing. As you all know, There is nothing worse for investors than chaos and uncertainty. Todayis than chaos and uncertainty. Today is notjust a moment of industrial renewal, it is also a line in The sand. We are going to do things differently. Injust under two weeks going to do things differently. In just under two weeks time, The Worlds most important companies will arrive here in britain for Ourfirst Britain for our first international Investment Summits. All These companies coming here to britain, and i hope to see some of you There, at a summit on investment into britain, intojobs like yours, but more importantly i hope we can deepen our partnership, because investment is how we will change The country. We will change The country. We will have to be smart. We have to be pragmatic. We have to invest only where we have a clear and undeniable potential. Make sure like today that There is a clear case for long term growth. But above all, we have to invest togeTher. You cant bury your Head And Hide from The future. That is how you go backwards. What you can do is use The power of government, The strength and skills of a nation to reshape that future in your interest. That is what we are doing today with Carbon Capture and storage. That is The countrys heritage The politics of serious, stable government to stop The Business of changing action. Thank you so much for listening, thank you so much what you do, and i want to have The opportunity if i can before relieved to just have a chat with you about The work that you do and understand for myself how you do what you do. I really appreciate you being here. I really appreciate you listening. Thank you very much indeed. Applause i would ,.. Applause Iwould ,.. i would just going to take some auestions i would just going to take some questions from i would just going to take some questions from The i would just going to take some questions from The media i would just going to take some questions from The media first. J questions from The media first. I havejust questions from The media first. I have just in from The bbc first, i think. Justin. I have just in from The bbc first, ithink. Justin. First, i think. Justin. You talk about first, i think. Justin. You talk about igniting first, i think. Justin. You talk about igniting a first, i think. Justin. You J Talk about igniting a new industrial revolution here and The north of england, but this money and this project is a new, is it . The tories announced 20 Million for 20 Billion for a scheme that is out of The same is this a year ago . Out of The same is this a Year Auo . out of The same is this a Year Am .y out of The same is this a year ao .y , ago . The tory spoke about this, but They didnt ago . The tory spoke about this, but They didnt do ago . The tory spoke about this, but They didnt do any ago . The tory spoke about this, but They didnt do any of ago . The tory spoke about this, but They didnt do any of The but They didnt do any of The agreements, didnt Put The money aside. That is The big change, and this is The big political divide, between invest or decline. We have had The Decline Bit for 14 years. We were elected in for change, and The changes investment. If you look at only The last two or three weeks, we have had 8 billion of investment in amazon, which rachel announced just two or three weeks ago. We have had 10 billion from blackstone, which i announced last week from The us, and