Paul Sweeney
Main Page: Paul Sweeney (Labour (Co-op) - Glasgow North East)Department Debates - View all Paul Sweeney's debates with the Cabinet Office
(6 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mel Stride
My hon. Friend is entirely right. I know that the oil and gas sector has warmly welcomed the changes that we are making to provide additional tax relief through transferable tax history. Many in the sector believe that that measure will lead to tens of billions of additional investment during the lifetime of the North sea reserves.
Mr Paul Sweeney (Glasgow North East) (Lab/Co-op)
I associate myself with the Secretary of State’s kind remarks about the late Jimmy Hood, who was a fine champion of Labour values and of his community. The whole House offers condolences to his family and all those who knew him.
The Government claim that Scotland has received an additional £2 billion in the Budget, yet the Fraser of Allander Institute says that the revenue budget will be about £500 million less in real terms within the next two years. Who are the people of Scotland to believe: this redundant Secretary of State, or a world-renowned economic think-tank? Will the Financial Secretary address that question directly?
Mel Stride
The figures speak for themselves. As the hon. Gentleman should know—I am sure that he does—by 2020 the block grant to Scotland will be £31.1 billion before devolutionary adjustments, and that is a simple real-terms increase.