Stephen Flynn

It was deeply disappointing that Petroineos confirmed its previous decision to close the oil refining operation at Grangemouth.

Since taking office, the Secretary of State and I have taken joint action with the Scottish Government to urgently engage with the company and its shareholders, and to engage with unions to discuss the needs of the workforce.

In response to the company’s decision, the UK and Scottish Governments announced a joint £100 million investment package for Falkirk and Grangemouth; immediate career support to help the workforce; and a joint-funded £1.5 million project to find viable long-term options for the site, with potential for future support from the National Wealth Fund.

Details of Ministers’ meetings with external individuals and organisations are published quarterly in arrears on GOV.UK.

This government has announced the creation of a £7.3bn National Wealth Fund, for which investment in ports and supply chains has been identified as a priority. HM Treasury and the UK Infrastructure Bank are leading on the setting up of the NWF and agreeing details of its operation such as funding criteria, process, and allocation. The Fund is intended to be UK wide. Key missions for the UK government and this Department are kickstarting economic growth, creating opportunity for all, and driving forward the UK’s green energy transition.

This government has announced the creation of a £7.3bn National Wealth Fund, for which investment in ports and supply chains has been identified as a priority. HM Treasury and the UK Infrastructure Bank are leading on the setting up of the NWF and agreeing details of its operation such as funding criteria, process, and allocation. The Fund is intended to be UK wide. Key missions for the UK government and this Department are kickstarting economic growth, creating opportunity for all, and driving forward the UK’s green energy transition.

This government has announced the creation of a £7.3bn National Wealth Fund, for which investment in ports and supply chains has been identified as a priority. HM Treasury and the UK Infrastructure Bank are leading on the setting up of the NWF and agreeing details of its operation such as funding criteria, process, and allocation. The Fund is intended to be UK wide. Key missions for the UK government and this Department are kickstarting economic growth, creating opportunity for all, and driving forward the UK’s green energy transition.

Recognising the wide-ranging causes of child poverty, our new Ministerial Taskforce will explore how we can use all the available levers we have across government and wider society to drive forward the change our children need.

The government is committed to maintaining an open and constructive dialogue with stakeholders to finalise the changes that were announced in the Chancellor’s Statement on July 29 in relation to the Energy Profits Levy, ensuring a phased and responsible transition for the North Sea. Money raised from these changes will support accelerating the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks.

The Exchequer Secretary met with senior representatives from the oil and gas sector whilst chairing an Oil and Gas Fiscal Forum meeting in Aberdeen on August 12, and he met directly with workers in the sector. In addition, Treasury Ministers and officials continue to engage with the sector and various interested parties ahead of announcing further details of the final policy design at Budget.

The government is committed to maintaining a constructive dialogue with the oil and gas sector on the implementation of the changes to the Energy Profits Levy. We will continue to engage with the sector ahead of publishing further details of final policy and impacts at Budget.