Oral Answers to Questions

Debate between Jeremy Hunt and David Duguid

Tuesday 14th November 2023 Commons Chamber

[Jeremy Hunt]

I think £94 billion of support to help families up and down the country, including with food prices and energy prices, is a rather different answer from saying that we are doing nothing.

[David Duguid (Banff and Buchan) (Con)]

5. What fiscal steps his Department is taking to support the growth of the energy sector.

Oral Answers to Questions

Debate between Jeremy Hunt and David Duguid

Tuesday 5th September 2023 Commons Chamber

[The Chancellor of the Exchequer (Jeremy Hunt)]

Investment zones are part of our industrial strategy to make sure that the benefits of our national strengths in our five growth priority sectors are spread throughout the UK.

[David Duguid]

I thank my right hon. Friend for his response. The north-east of Scotland has long been an exemplar of innovation in the fields of food and drink and energy, to name a few. Can he confirm that the north-east Scotland investment zone will lead to more innovation to promote these key industries not just in Aberdeen City, but in the wider north-east, including my constituency of Banff and Buchan?

[Jeremy Hunt]

I know that the Acorn carbon capture, usage and storage project is based at St Fergus in my hon. Friend’s patch, and that Banff and Buchan is within the north-east of Scotland region, which is one of two eligible areas and has been a long-standing global centre for excellence in clean energy, so I wish him every success as those discussions with the Scottish Government continue.

--- Later in debate ---

[David Duguid (Banff and Buchan) (Con)]

T7. Can I ask my right hon. Friend when a fiscal review of all offshore energy activity will be carried out to ensure that we are maximising investment opportunities in critical energy infrastructure such as offshore wind, carbon capture and storage and hydrogen, as well as—while we still need it—domestic oil and gas?

[Jeremy Hunt]

My hon. Friend is absolutely right to raise that issue. I actually had a breakfast with clean energy industry representatives this morning to discuss their concerns. There is a huge amount of potential investment, and he is right to say that maximising the use of our own oil and gas reserves during transition is a vital part of our energy security policy.