Oil and Gas Industry — [Mr Philip Hollobone in the Chair]

Part of the debate – in Westminster Hall at 12:09 pm on 9 October 2018.

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Photo of Alan Brown Alan Brown Shadow SNP Spokesperson (Transport), Shadow SNP Spokesperson (Energy) 12:09, 9 October 2018

It is a pleasure to serve under your chairmanship, Mr Hollobone. I congratulate my hon. Friend John Mc Nally on introducing what is clearly a timely debate, given that the Budget is forthcoming. As he rightly said, that Tory Budget cannot undermine the future of the oil and gas industry by once again using the North sea as a cash cow—terminology that was effectively recognised even by Bill Grant, who acknowledged the £350 billion that the UK Treasury has accrued over the lifetime of the oil industry. That money has simply been frittered away.