Andrew Bridgen
Main Page: Andrew Bridgen (Independent - North West Leicestershire)Department Debates - View all Andrew Bridgen's debates with the Northern Ireland Office
(10 years, 3 months ago)
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The Prime Minister
I thought that the proposal from some Members was that it should be 10% of profits. My point is that 1% of revenues, which obviously start running the moment shale gas starts coming out of the ground, could well be a better offer. I am very happy to sit down with anybody to discuss the issue, because I think that shale is so important for the future of our country. The point I would make, having been on Monday to see the oil platforms that are already on the Nottinghamshire-Lincolnshire border, is that those went ahead without any of the sorts of community benefits that we are promising with shale: £100,000 when a well is dug, before any gas has reached the surface; 1% of revenues, which could be between £7 million and £10 million for a typical fracking well; and 100% retention of business rates, which for a set of wells could be £1.7 million, or even £2 million, for a local authority. Hon. Members should think about how much council tax a small district or metropolitan authority raises and consider the difference that £1.7 million or £2 million in revenue could make. By all means let us talk about the facts and figures and what we can do, but we also need to persuade people that this can go ahead without the environmental damage or the problems that people are worried about. Those are the concerns more than anything.
Andrew Bridgen (North West Leicestershire) (Con)
The Leader of the Opposition has said, “What Hollande is doing in France I want to do in Britain.” Given recent events across the channel, does my right hon. Friend agree that that is completely at odds with our long-term economic plan?
The Prime Minister
I did not catch all of President Hollande’s press conference yesterday, because I was appearing in front of the Liaison Committee, but one thing that I did notice is that the French proposals now are to cut spending in order to cut taxes in order to make the economy more competitive. Perhaps the shadow Chancellor, in his new silent form, will want to consider some of those ideas and recognise that this revolution of making business more competitive and trying to win in the global race is a proper plan for the economy.