§ Mr. Whiteheadasked the Chancellor of the Exchequer what fiscal and monetary measures are planned to encourage oil saving investment in existing and new, respectively, residential and commercial buildings, as stated in the communiqué following the Venice summit.
§ Mr. John MooreI have been asked to reply:
I am satisfied that the Government's approach to energy conservation—realistic energy prices reinforced by a strong information and advice campaign—will result in consumers taking the necessary steps, including investment where appropriate, to ensure that all form of energy, including oil, are used as efficiently as possible. This approach is already having an effect: oil consumption in the first quarter of 1980 was, after allowing for warmer weather, 10 per cent. down on the 312W corresponding period in 1979. The Government's policy is also consistent with the declaration with the Venice summit.