Harriet Cross

Harriet Cross

Conservative — Gordon and Buchan

Speaking in the House of Commons on 14 January 2025

Debate

UK-China Economic and Financial Dialogue

Contribution

The Chancellor referred in her statement to safeguarding national security, which I welcome, but this must include energy security. Yet her changes to the energy profits levy, removing investment allowances and not permitting new licences at a time when we are still reliant on oil and gas, not only undermines our energy security but dwarfs the £600 million that she has brought back from China with the £12 billion of tax revenues that will be lost from the sector. Why, rather than supporting our energy security, is the Chancellor turning her back on the sector, turning her back on these tax revenues and risking selling our energy security to China?

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