Aberdeen MP demands UK government help save oil and gas jobs

Aberdeen South MP Stephen Flynn is urging the UK Government to dip into the £12.9 Billion it holds for decommissioning tax relief to help save jobs around the UK and in the North East of Scotland.

HMRC estimates that it will repay around £12.9 billion to operators in taxes previously collected due to decommissioning tax reliefs.

There has been an increase of job losses in the oil and gas industry due to the covid-19 pandemic.

Commenting, Stephen Flynn MP said:

“At a time when jobs and livelihoods are on the line, it is simply not acceptable for the UK Government to sit back and do nothing. By releasing a fraction of the £12.9 billion it holds against decommissioning tax rebates, with the stroke of a pen the Treasury could save hundreds of jobs in Aberdeen and the North East.

“This is money that they will have to spend in the years to come and it begs the question if now is not the right time to use it, then when is? The perfect storm of coronavirus and the oil price crash has put livelihoods and the very future of the industry on the line – the stakes could not be higher and the Chancellor simply cannot continue to sit on his hands.

“Just this week Maureen Watt MSP and I met with the team at Decom North Sea to discuss their very realistic proposals to free up some of this near £13 billion fund and I’ll be writing to the Chancellor on the matter too – after all, these are revenues raised in Scotland and should be brought forward to support the sector and jobs now.”