Future prosperity for the North Sea

Stewart Stevenson (Banffshire and Buchan Coast) (SNP): In his statement, the minister talked about maximising economic recovery. Can he tell us what expectations he has that we will see a UK policy on that subject any time soon? How is he going to help?

The Minister for Business, Energy and Tourism (Fergus Ewing): I hesitate to speak for the UK Government—I am not sure that I would be its anointed spokesperson—but it is abundantly clear to anyone who has studied Sir Ian Wood’s final report, which I have with me and parts of which I have reread in the past couple of days, that there is one fundamental truth that the UK Government has not acknowledged. That is that, if we are to achieve the objective of maximising economic recovery, the UK Government must step up to its role of using fiscal policy as a lever—nay, a precision tool—to get the maximum from the North Sea.

The UK Government must therefore make a commitment in the Energy Bill or the Infrastructure Bill, which are currently going through the UK Parliament, to do that. It has not done so yet, but I hope that, after this statement, it will begin to think very seriously. If it does not collaborate, why should it expect industry to collaborate? That is what it is asking.

We will pursue that argument vigorously with our MPs in Westminster and in Scotland so that we achieve the best for the industry and thereby secure tens of thousands of jobs in this country.