ExxonMobil: Mossmorran Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Earl of Effingham
Main Page: Earl of Effingham (Conservative - Excepted Hereditary)Department Debates - View all Earl of Effingham's debates with the Department for Business and Trade
(1 day, 6 hours ago)
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Baroness Lloyd of Effra (Lab)
My noble friend makes some very important points about the importance of swift and collaborative action, partnership with all those who can assist in supporting the workers in this situation and looking at their individual needs and the economic opportunities that are available today, and training them for the future.
She is right that the task force has been established, and my right honourable friend Douglas Alexander met with Fife Council and the Scottish Government earlier today. The Government are committed to working with them to deliver a local response and, more broadly, to mitigate the impact on workers. That will include working with the partnership action for continuing employment and looking to support the 50 employees who are going to be retained to support the decommissioning until 2028, as well as the 50 who are being offered relocation and training packages to Exxon’s other assets.
My noble friend makes a very good point about looking broadly and making sure that this is in the context of the local economy.
The Earl of Effingham (Con)
My Lords, does the Minister know any chief financial officer who talks down prospects for their company? Why does she think the Chancellor spent nine months talking down the UK economy, which has contributed to Grangemouth, Mossmorran and other factories closing down and the subsequent loss of jobs?
Baroness Lloyd of Effra (Lab)
I do not agree with that commentary on our approach to the economy. In fact, I want to take some time to talk about the positive signs in the UK economy. The UK was the fastest-growing G7 economy over the first half of the year, with cumulative GDP growth at 0.9%. The IMF forecast the UK to be the second-fastest-growing economy in the G7 in 2025 and the third-fastest in 2026. I am sure that noble Lords frequently hear the Chancellor and the Prime Minister talking about the value of the inward investment into the United Kingdom. They have been integral to securing that inward investment, as this is an extremely investable country.