Claire Coutinho

The hon. Lady might like to know that oil and gas jobs have been stable for the past six years, but we are losing 1,000 jobs a month because of the Government’s policies. I know that because I have been to Aberdeen; perhaps she would like to do the same. We also saw yesterday that the markets are charging us 5% for our borrowing. That is because they think we borrow too much and earn too little. There is an easy way for the country to earn some more money: we can make the most of our own resources and back the North sea, which would drive down costs for everyone. It is unfashionable at the moment to talk about balance of payments, but if we keep sending billions of pounds abroad and rack up the credit card bill, that causes costs for everybody. Fourthly, on climate, Labour will say that drilling our own oil and gas in the North sea is “climate vandalism”—I am quoting the Secretary of State—but that is patent rubbish. Every drop of gas that we do not drill ourselves, we import from abroad instead. The liquified natural gas that we import has four times the emissions of gas that we could get from the North sea. LNG, for those who do not know, has to be frozen to minus 150ºC, shipped in diesel-chugging tankers, then heated up here. That is why it has much higher emissions overall. The Labour party says that it cares about that and that climate change is the biggest threat to our national security—its words, not mine—but it has a choice today: we can be three times more reliant on that dirtier LNG shipped across the Atlantic or shipped in from the middle east, or we could use our own gas with four times fewer emissions. Do the Government prefer virtue signalling and higher emissions under the Secretary of State, or more jobs and lower emissions under our plans to back the North sea?