Wednesday 1st February 2012

UK GOVERNMENT HYPOCRISY OVER OIL AND GAS

 

SNP Westminster Energy spokesperson Mike Weir MP has poured scorn on claims by UK Energy Minister Charles Hendry that only the UK government could provide a 'stable' environment to the oil and gas industry.

Mr Weir pointed out that the only uncertainty to the offshore industry has been caused by the UK Government’s tax raid on the North Sea, costing the industry an extra £2 billion a year and threatening thousands of jobs. 

Commenting Mr Weir said: 

“This is a breathtaking piece of hypocrisy from the UK government. The reality is that the only uncertainty over the future of the offshore industry has been caused by the UK Government who have launched damaging tax grabs on the industry without consultation leading to delays in investment and causing uncertainty.

“Charles Hendry should reflect on the fact that, while Scotland has a trillion pound North Sea asset base –  the UK’s national debt has broken through the £1 trillion mark for the first time. With the oil price forecast to rise over $200 a barrel, these figures absolutely underline the need for Scotland to gain control over our own resources with independence, for the long-term benefit of the country. 

“The UK Government has provided anything but stability to this important industry. Oil and Gas is a vital industry for the Scottish economy and it is ludicrous that the UK Energy minister should use it as a political pawn in this manner. 

“We already know the Treasury is set to take in £13 billion this year, relying on North Sea revenues to boost Treasury coffers at the same time as it seeks to punish the North Sea with unfair taxes that according to the industry could put some of this future investment at risk. 

“An assessment of Scotland’s geographical share of the North Sea demonstrates clearly that Scotland is more than able of standing on our own two feet with access to our own resources. 

“When all of Scotland’s resources are included in our nation’s economic output, an independent Scotland would be ranked sixth in the world league table of OECD nations in terms of gross domestic product per head – ten places ahead of the UK at sixteen. 

“Charles Hendry’s comments have as little credibility as other Tory attempts to scaremonger over inward investment in Scotland. The reality is that business at home and abroad are voting with their feet with full confidence in Scotland’s future by making huge investments here – most recently the announcement by Samsung just yesterday. 

“The list of major international firms which have invested here in recent months includes the likes of Avaloq, Dell, Gamesa, Amazon and Michelin, to name just a few.  This sort of investment has ensured that Scotland is the post prosperous part of the UK outside London and the south-east of England – and with the full financial and economic powers of independence we can achieve even more.”

 

ENDS