En­ergy: McDon­nell pledges his help for in­dus­try

The Press and Journal (Aberdeen and Aberdeenshire) - - NEWS -

Shadow Chan­cel­lor John McDon­nell yesterday said he would pro­duce a tax regime that sup­ports the oil and gas in­dus­try if Labour wins power at a gen­eral elec­tion.

On a visit to Scot­land, Mr McDon­nell de­clared an in­com­ing Labour Gov­ern­ment would use a £70 bil­lion fund, de­liv­ered to Scot­land over 10 years, to “re­vive” Scot­tish in­dus­try.

He said it would be up to Scot­tish Labour leader Richard Leonard to de­ter­mine in­dus­trial strat­egy north of the border, but ar­gued the fund en­sured there would be enough cash to sup­port the off­shore in­dus­try.

Speak­ing in Glas­gow, Mr McDon­nell said: “Richard Leonard and his team will lay out the de­tail of his plans and we will make sure they have got the re­sources to in­vest for the long term.

“They will de­ter­mine their in­dus­trial strat­egy which they are do­ing, but it will link up with our own. We will make sure that they have got the re­sources.

“The in­vest­ment pro­gramme will be de­vel­oped by Richard him­self.”

On West­min­ster taxes, he added: “In terms of tax­a­tion, what we have done is ev­ery­thing we can to sup­port the in­dus­try and we will con­tinue to do so.”

Ear­lier, Labour leader Jeremy Cor­byn had sig­nalled he could or­der a re­view of oil and gas taxes if he gains the keys to Down­ing Street.

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