Martin Vickers

The hon. Gentleman makes an important point about the Government’s overall policies in relation to net zero. Adam Wilson of Falcon Petroleum wrote to me describing “the unsatisfactory experience we have had with the bidding process with FTI… We own and operate 4 refineries in Europe and the middle east. With advancement of technology we have been able to go carbon neutral at all our refineries. We had pledged to turn LOR carbon neutral within 2 years if we had successfully purchased it.” I could give other examples, but what I have said so far makes it clear that the approaches to FTI from consortia that wish to purchase the whole business and continue production have been rebuffed. Potential investors, employees and all those affected have a right to know why. The Government have chosen not to get involved. Yes, they have offered a training guarantee, which is helpful, but much more is required. At a meeting with me and the hon. Member for Great Grimsby and Cleethorpes last week, the Minister suggested that the Minister for Investment, Lord Stockwood of Great Grimsby and Cleethorpes, and local authorities and all agencies could help to provide investment in the area. We must sit around the table with them at an early opportunity. We need better transport connections, and early decisions from the Government on the many proposals in their in-tray that could boost the Humber region economy. To sum up, why did the Government not act to ensure that production continued, and engage more fully in the process to achieve that? When will the Minister and Lord Stockwood visit the area and put in place a structure that helps us to recover the local economy? How many jobs will be saved by the P66 deal? The receiver’s job is to ensure the best deal for creditors, so will the Minister explain why a sale of the assets rather than the business better achieves that? The Government are one of the creditors, so how much are they owed and how much of it will the P66 deal return to the Treasury? I look forward to his response.