Michael Shanks

Michael Shanks

Labour — Rutherglen

Speaking in the House of Commons on 27 October 2025

Debate

North Sea Oil and Gas Industry

Contribution

We recognise that the energy profits levy will come to an end and have consulted on what the future of that looks like with industry. It is a matter for the Chancellor to outline tax policy, as is standard practice in this House; it is not for me to comment on that. But there is a broader question about how we ensure that we drive forward investment. Talking down the investment in carbon capture, hydrogen, offshore wind and the supply chains is not the way to drive forward the jobs of the future, alongside the critical, important oil and gas jobs that will be with us for decades to come.

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