Spring Statement

Debate between Lord Hammond of Runnymede and Ross Thomson

Tuesday 13th March 2018 Commons Chamber

[Mr Hammond]

The reality is that since 2010 we have increased the number of schools that are good or outstanding. That means that 90% of schools are now either good or outstanding, and that 1.9 million more children are being taught in good or outstanding schools. That is the metric that matters to parents and to children themselves in terms of their life chances. It is not always just about the money; it is also about the outcomes.

[Ross Thomson (Aberdeen South) (Con)]

I welcome the measures introduced by the Government to help the oil and gas industry, including a £2 billion package of support and the introduction of transferable tax history, which has been a much-needed shot in the arm. With the industry set to contribute over £1 billion in tax to the Treasury this financial year, will my right hon. Friend tell me what further steps the Government can take to support this vital sector?

[Mr Hammond]

We are committed to the oil and gas industry and, as my hon. Friend knows, to measures that will ensure that every drop of economically recoverable oil and gas in the UK continental shelf is recovered, which is in the interests of the Scottish economy, the UK economy and Her Majesty’s Treasury. I am delighted that the increase in the price of oil, together with the uptick in activity as a result of that rise and of the measures that we have announced, means that the oil sector’s contribution to the UK Treasury will again become positive in the year to come.