Prime minister Sir Keir Starmer’s plan to boost growth and protect jobs, must be reflected in government support for homegrown energy, says Offshore Energies UK
In his speech to the Labour Party annual conference in Liverpool today, Sir Keir warned that Britain stands “at a fork in the road” between renewal and decline.
He described the need for unity around a common good and a new model of economic growth spread around the country to lift living standards for all.
In his response to Sir Keir’s address, David Whitehouse chief executive of Offshore Energies UK, said:
“The government must choose the right path and these aspirations must be reflected in actions. The UK’s offshore energy industry is a national success story which supports around 200,000 skilled jobs, contributes billions in taxes, and keeps the lights on in homes and businesses across the country.
“Last year alone, our sector added £22 billion to the economy and paid £4.2 billion to the Exchequer.
“We have written to the prime minister urging him to replace the current Energy Profits Levy. It is not working. It is driving companies away, undermining investment and jobs, and raising less than one third of the tax revenue that was originally forecast.
“Companies need predictability, a system that gives businesses the confidence to commit to UK projects and which responds fairly to market conditions.
“Licensing rules must be updated so our industries have predictable access to domestic energy resources.
“Existing energy production infrastructure must not be dismantled prematurely, it must be fully used.
“This is not about clinging to the past, it is about making the most of what we have and building the future.
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“The rewards of reform are immense. Far from being in conflict, oil and gas, wind, and emerging low-carbon technologies are part of one integrated system. It is the skills of our people, the same people who built the North Sea that will deliver this transition.
“The Prime Minister has a golden opportunity to act and the choice is clear: build on our strengths and lead the world in the energy transition, or risk becoming ever more dependent on imports with higher costs and higher emissions.
“For the sake of our economy, our workers, and our future, I urge the Government to choose the path of investment, stability and growth.”
