Asked by: Stephen Flynn (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will meet with energy (a) companies and (b) workers in Aberdeen who will be affected by an (i) increase and (ii) extension of the windfall tax on oil and gas.
Answered by James Murray - Chief Secretary to the Treasury
The government is committed to maintaining an open and constructive dialogue with stakeholders to finalise the changes that were announced in the Chancellor’s Statement on July 29 in relation to the Energy Profits Levy, ensuring a phased and responsible transition for the North Sea. Money raised from these changes will support accelerating the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks.
The Exchequer Secretary met with senior representatives from the oil and gas sector whilst chairing an Oil and Gas Fiscal Forum meeting in Aberdeen on August 12, and he met directly with workers in the sector. In addition, Treasury Ministers and officials continue to engage with the sector and various interested parties ahead of announcing further details of the final policy design at Budget.
Asked by: Stephen Flynn (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department (a) has made and (b) plans to make of the potential impact of (i) increasing and (ii) extending the windfall tax on oil producers on businesses in the North East of Scotland; and what steps she plans to take to assist businesses affected by that tax.
Answered by James Murray - Chief Secretary to the Treasury
The government is committed to maintaining a constructive dialogue with the oil and gas sector on the implementation of the changes to the Energy Profits Levy. We will continue to engage with the sector ahead of publishing further details of final policy and impacts at Budget.
Asked by: Stephen Flynn (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent estimate he has made of what the Public Works Loan Board (a) principal and (b) debt repayments for local authorities will be in the 2023-24 financial year.
Answered by Andrew Griffith - Shadow Secretary of State for Business and Trade
The Office for Budget Responsibility publishes the official forecast for local authority borrowing and spending in their Economic and Fiscal Outlook, including future spending on principal and debt interest. The latest estimate in the March 2023 forecast is published here: https://obr.uk/efo/economic-and-fiscal-outlook-march-2023/.
Asked by: Stephen Flynn (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the Public Works Loan Board (a) principal and (b) debt repayments were for local authorities in the (i) 2020-21, (ii) 2021-22 and (iii) 2022-23 financial year.
Answered by Andrew Griffith - Shadow Secretary of State for Business and Trade
Figures for principal and interest repayments to the Public Works Loan Board for the financial years 2020-21 to 2022-23 are published in their annual reports and accounts. Links to those reports can be found here: https://www.gov.uk/government/collections/public-work-loans-board-annual-report-and-accounts.