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Labour tax on oil and gas threatens future of the industry

Labour’s plan for a windfall tax on oil and gas companies threatens the very future of the industry, the Scottish Conservatives have said today. 

Jeremy Corbyn announced today a Labour government would introduce a new tax on the sector that sustains 120,000 jobs in Scotland and 270,000 across the whole U.K.

Colin Clark, Scottish Conservative candidate for Gordon has therefore challenged all SNP candidates to “make it clear that any deal they are plotting with Corbyn must exclude a plan to sell out Scotland’s oil and gas industry.”

North Sea operators are only just recovering from the global downturn in oil prices which resulted in the loss of thousands of jobs, mostly in and around Aberdeen. 

In addition to Labour’s plans, SNP politicians have advocated divesting from fossil fuels while the Liberal Democrats have talked openly about halting new exploration. 

The Scottish Conservatives have pledged to “stand up” for the industry and protect jobs in Scotland. 

Colin Clark, Scottish Conservative candidate for Gordon, said:

 

“This election could prove critical for the future of the North Sea oil and gas industry.

“Labour’s windfall tax would threaten more than 100,000 jobs in Scotland - many of which are based in and around Aberdeen. 

“All SNP candidates in the north-east must now make clear that any deal they are plotting with Corbyn must exclude a plan to sell out Scotland’s oil and gas industry.

“Jeremy Corbyn’s reckless plans would also act as a deterrent to new investment in the UK.

“It seems clear the Labour leader is prepared to sacrifice jobs north of the border. 

“The truth is that a series of measures implemented by Conservative governments have made the UK Continental Shelf one of the most competitive basins in the world. 

“However, the recovery from the recent downturn is now at real risk. 

”Aside from Labour’s tax grab, the SNP and Lib Dems have also talked about divesting from fossil fuels and halting new exploration.

“Only the Scottish Conservatives can be trusted to stand up for this vital industry on which so many jobs depend.”

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