Breaking: The government has now formally approved the Jackdaw gas field and says it will start to supply British homes and businesses by the end of the month It says that at its peak it will increase domestic gas production by 6% John Healey, the Chancellor, is also announcing an ‘energy wealth fund’. It will use tax revenues from the North Sea to invest in green projects, with an initial £2billion of funding Miatta Fahnbulleh, the energy secretary, says it will not stop the UK from meeting its net zero targets Andy Burnham: ‘I welcome the Energy Secretary’s decision, which will protect hundreds of jobs and help keep millions of homes warm this winter. At a time when people are really struggling, it's right that we look in a responsible way at maximising the existing energy reserves we have in Britain that could help ‘We’re committed to moving towards renewable energy and reaching net zero by 2050. But even on our ambitious climate path, we’ll still require oil and gas as part of our energy needs for decades to come. That’s why we’re taking a pragmatic approach to the North Sea.’