Chris Evans
Main Page: Chris Evans (Labour (Co-op) - Caerphilly)Department Debates - View all Chris Evans's debates with the HM Treasury
(11 years, 8 months ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
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Mr Osborne
My hon. Friend is right that it is very welcome news from the oil and gas industry, and it is partly because we have been able to provide certainty on decommissioning relief, which it has long sought. One of the challenges for the UK economy is the secular decline in the North sea oil field as it reaches its maturity. Although we will get oil out of it for many more years, we have to look to the post-North sea future, and that is one of the big challenges for the SNP.
Chris Evans (Islwyn) (Lab/Co-op)
As a political strategist, does the Chancellor understand that linking the fortunes of the UK economy to discredited credit rating agencies is at best naive and at worst plain stupid?
Mr Osborne
That question rather reveals Labour Members’ confusion today. They cannot decide whether this credit rating decision matters or not. What I am saying is that we have to have the credibility to show the world that we can pay our way, and that is precisely what we are doing.