Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 3 March 2026

Debate

Spring Forecast

Contribution

I am meeting representatives of the North sea oil and gas sector tomorrow because of the huge volatility we are seeing in oil and gas prices. Since the Budget, the OBR forecasts show a sharp fall in oil and gas prices, but we have seen some of that reverse in the past few days. If that continues, it will put pressure on the bills that all our constituents pay. It is important that we get the right balance between taxing profits and making sure that our constituents can fill up their car and pay their gas and electricity bills.

More from Rachel Reeves

Other recent Hansard contributions by the same speaker.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

For Rachel Reeves's full parliamentary record including voting history, expenses and all other contributions, see the Rachel Reeves report card.

Partner sites