The Conservative Government have brought forward legislation to protect 26,000 jobs in the energy sector across London for years to come.
New legislation will support the production of energy in the UK every year, encouraging new energy investment to help support economic growth, the transition to net zero and thousands of jobs.
The new law will protect 200,000 jobs across the UK, as the Conservatives take the long-term decisions to strengthen our energy supply and maximise the use of British oil and gas.
Charlie Davis has welcomed new legislation introduced by the Conservative Government to protect 26,000 jobs across London and a total of over 200,000 jobs across the UK.
The Energy Sovereignty Bill (Offshore Petroleum Licensing Bill) will require, by law, annual licensing rounds for oil and gas exploration in the North Sea. This means, companies will have certainty that every year the Government will support production of energy in the UK, allowing them to continue to support the thousands of jobs and billions of pounds of revenue across the energy sector.
Supporting continued energy production in the UK will also reduce reliance on higher-emission imports – with gas produced here at home having four times less the carbon footprint of imported liquefied natural gas.
By maximising the use of energy sources in the North Sea, the Conservative Government will reduce reliance on dictators like Putin in the long-term – helping to shield families from spiking energy costs.
The oil and gas industry supports around 200,000 jobs in the UK and adds tens of billions of pounds annually to the economy – with fossil fuel producers expected to pay around £50 billion in tax over the next five years, which can be used to fund public services and support with the cost of living.
In contrast, the Labour Party have confirmed they would no longer support the UK’s oil and gas sector – risking billions of pounds of revenue, increased emissions and the loss of tens of thousands of jobs.
The jobs protected through this legislation not only support the oil and gas sector, but they require the same skills as jobs across the future of the energy sector such as offshore wind. The Conservative Government has stressed, by failing to support this legislation, the Labour Party are sacrificing this expertise in favour of sending British jobs abroad, decimating communities.
Commenting, Charlie Davis said:
“This Bill is a great example of the Conservatives taking the long-term decisions to safeguard the future of our energy supply.
“By failing to support this Bill, the Labour Party are risking 26,000 energy jobs across London.
“Not only does this support thousands of jobs, but it will also help us bolster our energy sovereignty and cutting emissions by reducing reliance on carbon intensive imported energy.”
Secretary of State for Energy Security and Net Zero Claire Coutinho MP said:
“We’ll still need oil and gas for decades to come, even when we reach net zero in 2050, as data from the independent Climate Change Committee shows.
“It’s just common sense to make the most of what we can produce here, rather than shipping in more fuels from foreign regimes with higher emission.
“Sir Keir Starmer’s reckless plans to turn off the taps too soon, would send 200,000 good jobs abroad along with billions of pounds of tax revenue which we can use to support people with the cost of living. It’s irresponsible to put British energy security at risk for the sake of ideology.”
