North Sea Oil and Gas Producers: Investment Allowances Debate
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Alan Brown
Main Page: Alan Brown (Scottish National Party - Kilmarnock and Loudoun)Department Debates - View all Alan Brown's debates with the HM Treasury
North Sea Oil and Gas Producers: Investment Allowances
Alan Brown Excerpts(2 years, 5 months ago)
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Lucy Frazer
What we have proposed is a windfall tax that will recover more than what Labour proposes would recover. That money—£5 billion—will support those who are the most vulnerable, which is why we have introduced the measure.
Alan Brown (Kilmarnock and Loudoun) (SNP)
This policy confirms that we are seeing more take, take, take from Scotland’s North sea oil and gas. The Government are taking resources and taking money. Norway has the biggest sovereign wealth fund in the world, but Westminster squandered all the income from oil and gas from the North sea. At the very least, will the Government reverse their decision and support the Scottish carbon capture and storage cluster and make it a track 1 cluster, and will they consider matching the Scottish Government’s £500 million just transition fund?
Lucy Frazer
I think the hon. Member is aware that the Scottish CCS is a reserve. [Interruption.] I am grateful to the hon. Member for confirming that he is aware of that.