Question

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the effect of the recent fall in the price of oil on (a) projects, (b) employment prospects and (c) long-term competitiveness and capacity in the offshore sector supply chain in the North East of England; and if he will make a statement.

We recognise the important role that businesses in the North East of England play in the oil and gas offshore sector supply chain. No specific assessment has been made of the effect of the recent fall in the price of oil on business in the North East of England, but the Department continues to work with its local offices to monitor the situation. I am planning to visit Newcastle shortly to gain first-hand knowledge of the issues.