Oil and Gas

Debate between Alec Shelbrooke and Graham Stuart

Tuesday 24th March 2026 Commons Chamber

[Graham Stuart (Beverley and Holderness) (Con)]

It is a pleasure to take part in this debate and to follow the hon. Member for Morecambe and Lunesdale (Lizzi Collinge), who follows in a tradition of Government Back Benchers standing up and trying to make the case for the utterly insane, the truly crazy and the utterly groundless. I feel more sorry for the hon. Lady than I do for the Ministers on the Front Bench, because we know that this impossible position cannot be maintained.

I do not know whether the Government are on U-turn No. 13, 14, 15 or 16—who can count them?—but I guarantee that it is impossible to maintain the current position; it rests on a number of fallacies. The hon. Member for Morecambe and Lunesdale said it as passionately as any of the Government Members, did she not? They say, “Oh, it is outrageous! The Conservatives are suggesting that our producing more oil and gas in the North sea will change the global price.” Well, I went back to the motion, and nowhere does it say that. That is the case of the “crazies” on the Government Benches—I do not know if that is parliamentary or not—and I include the Liberal Democrat spokesperson, the hon. Member for South Cambridgeshire (Pippa Heylings), in that. This is lunacy made flesh.

[Sir Alec Shelbrooke]

On the subject of the hon. Member for South Cambridgeshire (Pippa Heylings), it was a shame that she did not take my intervention, because she may have been able to answer this question. She was very keen to talk about what happened under the Conservative Government and how we need to have renewables, but does my right hon. Friend the Member for Beverley and Holderness (Graham Stuart) find it incredulous that at no moment did the hon. Member for South Cambridgeshire mention that it was Nick Clegg who cancelled all the nuclear power stations? He said that he was not going to invest in something that would not come along until 2022.

[Sir Alec Shelbrooke]

You can’t intervene on an intervention!

[Graham Stuart]

My right hon. Friend is right. I was incredulous when listening to the incredible things that the hon. Member for South Cambridgeshire said.

Let me go back to this big, passionate attack. That production will not change the global oil price, but it will help to employ 200,000 people in this country, with all the engineering expertise and the deep supply chain in this country, in oil and gas. It will help to provide gas, nearly all of which—practically 100% of the gas produced in the North sea—comes into the UK grid. Nearly all of it is consumed here. Some of it goes through interconnectors in either direction the other way, but the idea that it does not directly contribute to our energy security is for the birds.

I return to the point about price, because Labour colleagues put so much effort into saying, “How dare they suggest that it will change the price?” There are localised prices, so it is also not true to say that oil and gas have a global price and we have to take that price regardless. As the hon. Member for Boston and Skegness (Richard Tice) interjected earlier, in the United States, the price of gas is between a third and a quarter of the price that it is here. Getting supply and demand in the right balance does make a difference. Relying on LNG means that we have to liquefy it, gasify it, ship it with specialist ships and put it into specialist infrastructure to bring it into the UK gas grid, which all costs money. It is even more ironic, given the attitudes of Labour Members, that according to the North Sea Transition Authority, that gas comes with four times the embedded emissions. It is environmentally insane as well as economically insane.

Agricultural and Business Property Relief

Debate between Alec Shelbrooke and Graham Stuart

Tuesday 14th January 2025 Westminster Hall

[Graham Stuart (Beverley and Holderness) (Con)]

I beg to move,

That this House has considered the impact of planned changes to agricultural property relief and business property relief on small businesses.

It is pleasure to serve under your chairmanship, Dr Allin-Khan, and to see so many colleagues from across the House here today. Perhaps it is not surprising that we have a redoubtable Minister, who picks up the poisoned chalice on so many occasions. He will do so today, no doubt both well informed and with good humour, as he has done previously.

I refer to my declaration in the Register of Members’ Financial Interests as a recipient of campaign donations from businesses and farmers across Beverley and Holderness. Given the rural nature of my seat, I will start by focusing on the twin impacts of the changes to agricultural property relief and business property relief on family farms, followed by the impact of changes to BPR on family businesses. We have just a half-hour debate, and a colleague asked the good question of why it was so short for something so big. That means I will probably be the sole speaker, but I am happy to take as many interventions as I can, because I know that concern is widespread.

In her autumn Budget, the Chancellor announced a significant change to APR and BPR, set to take effect from April 2026. She is imposing a 20% tax on the value of land and machinery exceeding £1 million. That is known by many of us as a family farm tax. By the Government’s own estimate, it could result in one farm closing in every rural constituency every year.

[Sir Alec Shelbrooke (Wetherby and Easingwold) (Con)]

I thank my right hon. Friend for securing this debate. I also draw attention to my entry in the Register of Members’ Financial Interests. When a small farm has been in a family for generations, that family knows the local watercourses better than anybody else. Does my right hon. Friend share my concern that as those small farms disappear and move towards development, flooding issues may result because the local knowledge that would prevent flooding will be lost?

[Graham Stuart]

I thank my right hon. Friend for that intervention. On Friday, I visited Ian and Rebecca at Bygott farm just outside Beverley, which is about 220 acres. Their profits would be wiped out by the expected inheritance tax for 10 full years, with 10 years to pay it. The expected annual payment for 10 years would be greater than their profit last year. They also play that vital role, which my right hon. Friend mentioned, of looking after the watercourses. The villagers nearby do not know what a critical part they play in maintaining those watercourses.