North Sea Energy

Jonathan Brash Excerpts

Thursday 6th March 2025 Commons Chamber

[Sarah Jones]

If only I was able to confirm what will be in the spring statement, but clearly I cannot do that. We are hugely supportive of the Acorn project, which is an exciting opportunity. We will be investing �21.7 billion in carbon capture, after years of failure and prevarication by the previous Government. That is obviously subject to the spending review, and I cannot give the hon. Member the answer he is after, but I think this is a really exciting opportunity for Scotland. I have met representatives of many of the businesses involved and talked to them about what the potential could be.

[Mr Jonathan Brash (Hartlepool) (Lab)]

I welcome the statement, particularly the Minister�s commitment that oil and gas will be with us for decades to come. Was she as surprised as I was to hear the announcement from Reform UK of a renewables investment tax that would destroy jobs in the North sea and in places such as Hartlepool, which I represent, as well as expose us to Vladimir Putin, and does she suspect that that is what Reform UK actually wants?

[Sarah Jones]

My hon. Friend is completely right to expose Reform�s arguments for the nonsense they are. The CBI brought out a report a week or so ago showing that the net zero economy grew by 10%, which is much faster than the wider economy. This is delivering jobs already, as well as investment from around the world, in part because we are the second most attractive country in the world in which to invest, as PwC has told us. The reality is that we can bring down bills, secure good jobs and make ourselves more energy secure, and Reform is living in the past.