UK Parliament / Open data

Oil and Gas Producers: Windfall Tax

Proceeding contribution from Matt Western (Labour) in the House of Commons on Tuesday, 1 February 2022. It occurred during Opposition day on Oil and Gas Producers: Windfall Tax.

My right hon. Friend is making a powerful speech. He has identified the immediate issue of energy poverty and crisis that we have in this country. Those of us who are old enough to have lived through the 1970s and 1980s recall how the Norwegians used the wealth generated from the North sea to create sovereign wealth funds. Should we not be thinking about that? Could we perhaps not just use the windfall tax, but deploy such funds in the way that my hon. Friend is describing, to invest in renewables and invest in our country?

Type
Proceeding contribution
Reference
708 c205 
Session
2021-22
Chamber / Committee
House of Commons chamber
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