Speaking to the BBC, Clarke said the intervention, which could cost up to £150bn, would focus on immediate aid and longer-term solutions for energy security – including further oil and gas exploration in the North Sea. “We’re not looking at plaster of paris solutions here,” Clarke told Radio 4’s Today programme. “We want a lasting settlement that provides comfort and clarity for both households and businesses. This is an important effort to draw a line and provide energy certainty to everyone in this country about energy use in the medium term.” The minister added that the Truss government wanted to provide certainty for the winter. “There’s a lot that comes down the economic path that’s pre-planned, lands in people’s bank accounts, so it’s vital that we factor that into people’s understanding as well,” Clarke said. The minister, who was appointed to the role this week, insisted in another interview that the government had no alternative to a major intervention. “If we fail to act, if we fail to protect the economy from a shock of the size and scale that we’re talking about, then there will be enormous damage,” he told Sky News. He added: “I think the markets will respect that this is the most sensible thing to do. The Government is clear that a fiscally responsible approach is at the heart of our plans, but we cannot fail to respond to the magnitude of the moment.” Clarke defended Liz Truss’ decision not to introduce a windfall tax, warning it would “cripple” energy companies. “We want them to invest in the infrastructure that this country needs,” he said
