Oral Answers to Questions

Harriet Cross Excerpts

Wednesday 4th September 2024 Commons Chamber

[The Prime Minister]

Yes, I do. First, it is great that Oasis are back together—from what I have determined, about half the country was probably queuing for tickets over the weekend—but it is depressing to hear of price hikes. I am committed to putting fans at the heart of music and ending extortionate resales, and we are starting a consultation to work out how best we can do that.

[Harriet Cross (Gordon and Buchan) (Con)]

Q5. Offshore Energies UK reports that the Government’s proposed windfall tax increases will cost our economy £13 billion, risk 35,000 jobs and see investment in the North sea slashed from £14.1 billion to just £2.3 billion by 2029. It also suggests that there will be a £12 billion cost in tax revenues. How does this proposal chime with the Prime Minister’s goal of economic growth, and will he reverse this tax increase, which industry leaders are calling economic suicide for the oil and gas sector?

[The Prime Minister]

We are committed to the necessary transition to renewable energy, which will lead to cheaper energy, energy independence and the jobs of the future. But let me be clear: oil and gas will play their part for many years to come, and that is why I have been clear about the support that we have for them. I am sure the hon. Member and others will want to celebrate the fact that, just this week, contracts for difference secured a record 131 new clean energy projects—enough to power 11 million homes—and they are the jobs of the future.