Andrew Bowie

It will not surprise the hon. Gentleman to learn that I do not agree with him. In fact, what we have seen are billions of pounds generated for this country since the 1960s, driven by the private sector investing in jobs, investing in this country, creating wealth and making the North sea one of the cleanest and safest basins in the world in which to invest. I am very proud of the companies, and the men and women, who have driven that oil and gas industry to be the best in the world. Unlike the hon. Gentleman, and unlike the Government, we want to see that go further—we want to see further investment in our North sea oil and gas industry. As I was saying, consensus is welcome, because we are in an energy crisis and there is no escaping that. The people and businesses of this country face some of the highest energy bills, domestic and industrial, in the developed world, and it is getting worse. Under Labour, our energy system is becoming increasingly unreliable and intermittent, and more reliant on imported energy. The burden of expensive energy is bearing down on Britain in households, businesses and industry, and having severe consequences. While the Chancellor acknowledged that, which was as welcome as it was surprising, it was entirely underwhelming. Some of the announcements in the Budget may have seemed impressive, but they will not even touch the sides. There may be £100 for certain households, but when people’s bills are set to increase by over £500 in January, many will ask what was the point—will people even notice it? It is clear, however, that the Chancellor had at least noticed the Conservatives’ cheap power plan. Cutting VAT and scrapping levies on energy bills—I wonder where he might have got that idea?