§ Dr. CableTo ask the Secretary of State for Trade and Industry what actions she has taken to promote the use of credit unions; and if she will make a statement. [70524]
§ Ruth KellyI have been asked to reply.
Credit unions have an important role to play in tackling financial exclusion and enhancing opportunity, through the provision of core financial services. That is why we have been involved in initiatives to help the movement grow. We are delivering a programme of strategic deregulation to enable credit unions to offer a greater range of services to their members.
Through the Financial Services and Markets Act we have brought credit unions under the regulatory supervision of the Financial Services Authority and given depositors with credit unions similar protection to those with banks or building societies. The new regulatory system, combined with our programme of deregulation, will give the movement a strong position from which to build and thrive.
§ Gregory BarkerTo ask the Secretary of State for Trade and Industry if she will include nuclear energy generation in an emissions trading scheme. [71516]
§ Mr. MeacherI have been asked to reply.
For target-holders, the UK Emissions Trading Scheme places the responsibility for emissions created by the generation of power with the end user of that power. This provides a strong incentive for energy users to increase their efficiency and to reduce emissions at the point of use. Therefore, if generators were also covered there would be a risk of double counting, where the generators could count emissions reductions made by down-stream users. Therefore, nuclear energy generation is not included in the UK Emissions Trading Scheme.