Brendan O'Hara
Main Page: Brendan O'Hara (Scottish National Party - Argyll, Bute and South Lochaber)Department Debates - View all Brendan O'Hara's debates with the HM Treasury
(2 years, 1 month ago)
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Jeremy Hunt
I have visited the QEH and absolutely understand the concerns that my hon. Friend is talking about. I will write to him about what is happening, but we do commit today that we will protect the new hospital programme. We do want to spend very important money in our capital programme in the NHS.
Brendan O'Hara (Argyll and Bute) (SNP)
My rural, economically fragile constituency has been battered by a Brexit that we did not vote for resulting in the loss of European markets for our abundant seafood and meat products. What we also have in abundance is wind and water, which lash in from the Atlantic; something that we have learned not just to live with but to harness and benefit from. Why on earth has the Chancellor decided to tax electricity generators at a 10% higher rate than oil and gas producers? If there is a 91% investment allowance for the oil and gas sector, what is the figure for the renewables sector?
Jeremy Hunt
I have had wonderful holidays in the hon. Member’s constituency and can attest to the high levels of wind and water there. It is one of the most beautiful parts of the country. The windfall tax rate on electricity generators is calculated to ensure that we tax only genuine windfall profits. It is reasonable to do that. Overall, these taxes will raise about £54 billion, and this year and next year we will spend more than £100 billion to support people with their energy bills. It will only kick in at £75 a unit, which is a generously high level.