David Duguid
Main Page: David Duguid (Conservative - Banff and Buchan)Department Debates - View all David Duguid's debates with the HM Treasury
(10 months, 3 weeks ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
The Chief Secretary to the Treasury (Laura Trott)
The university sector is one of the jewels of this country and I am proud that we have four of the world’s top 20 universities. I am happy to look at any individual proposals from the hon. Gentleman.
David Duguid (Banff and Buchan) (Con)
Last June the Exchequer Secretary announced the energy security investment mechanism, and I welcomed the announcement in last November’s autumn statement that the floor price would rise with inflation from April. How and when will that be legislated for, and will he look at alternative ways of setting that floor price, other than the 20-year reference period that is already used?
Gareth Davies
The energy security investment mechanism was designed, as my hon. Friend points out, to give more certainty not only to the oil and gas sector, but to investors, ensuring that the energy profits levy is disapplied when prices return to historically normal levels. To provide additional certainty, on the back of urging from him and the industry, we have agreed to legislate for ESIM and will be announcing that shortly.