Friday, 20 March 2015

UK Government’s Energy Secretary Admits UK Government Projections Wrong on North Sea


The SNP is today highlighting an ‘overdue admission’ from the UK Government’s Energy Secretary Ed Davey that his government got their figures wrong on the North Sea oil industry.

Speaking at the Lib Dem conference today, it is reported that Mr Davey admitted that he did not see the current situation facing the North Sea coming – and yet again failed to apologise for his government’s decision to increase the supplementary tax on the industry in 2011.

Commenting, SNP MSP Mark McDonald said:

“This is an overdue admission from Ed Davey that he and his government did not foresee the current issues facing the North Sea oil industry and that they got their figures wrong – and should put paid to any suggestion that the UK Government has any greater insight into the oil industry than anyone else.

“Simply put, everyone’s projections about oil prices were wrong – now we have to get on with the job of doing everything we can to support the industry in these difficult times and ensuring that it meets its full potential in the decades to come.

“What was however lacking from Mr Davey’s speech was an apology to workers in the North Sea industry for his government’s tax hike on the industry in 2011 – and delayed response to the current situation facing the North Sea.

“A strong team of SNP MPs elected in May will always stand up for the interests of our oil and gas industry – in contrast to a Westminster establishment who have used the North Sea as a cash cow for decades.”
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